Tuesday, April 28, 2009

Short Sales...oh how I love thee!!

I have developed a really good system for getting short sales done. I counted yesterday, and I am mitigating a total of 26 loans for 15 listings. I actually just listed a new Fair Oaks short sale today (coming onto the market next Monday) - so that will make 27 loans for 16 listings.

Luckily, I have developed a great system to negotiate these transactions. Of the 27 loans I am dealing with, the majority fall with the same 5-6 lenders. This makes for a much easier time...I can make one phone call to one lender, spend my time on hold once, speak to one loss mitigation rep and knock out all of my work on 4 or 5 different loans at once.

Also, after dealing with a few particular lenders on a regular basis, I have developed a list of contacts with direct telephone numbers, direct fax numbers, email addresses, etc, and can work much more efficiently with them. I even have the direct telephone number and email to a loss mitigation supervisor at a certain lender that has pulled a few strings for me on more than one occasion.

Anyway, while most of my colleagues think I am sick (not Swine Flu!) for wanting to take them on, I LOVE SHORT SALES.

No comments: