As an investor, seller or a real estate professional, you’ve put a huge amount of time and effort into preparing a short sale package and sending it along to the lender. You have gathered all types of information and documents, including financial statements, medical bills, divorce decrees, tax returns and more. Don’t waste an excellent package with poor lender relations.
You will likely be working with a person in the “loss mitigation” department. Loss mitigation explains their goal – mitigating how much money they lose on this loan. It’s not about how much money the homeowner is going to lose. From your first contact with the lender, be courteous, but professional. You should have sent along written authorization from the borrower for you to work with the lender. Make the first phone call with the borrower present to verify details with the lender’s representative
Posted By Nilesh Jethwa Wilmington Real Estate