Extreme Escalation Procedure
March 9th, 2010
Prior to having to take the short sale procedure to the escalation level, you must mull over pre escalation. You need to mull over a few things. Does the lender worker that you are dealing with have the ability to assist the progression? Have you closed all of the necessary steps through the procedure thus far? You need to be sure that the fine points are taken care of before you make a decision to escalate.
Brian Gubernick is regularly chatting with his team about asking questions. There are lots of general questions that need to be asked. For instance, who is the investor on the loan? Is there mortgage insurance involved with this house? These could create a potentialy lenghty process. Does the lender have the power to make a decision? As we ask questions, we are gathering information but we are also producing a report with that lender worker so that we can maintain ourselves in the forefront of the lenders mind. Keep in mind that the bulk of these lender workers are respectable people. They get screamed at all day by people like us.
In effect, we like to slow it down and permit the lender to comprehend that we are agents with a high level of understanding. Get the lender worker at ease with you before you begin hounding them for information. It is remarkable what the lender will tell you if they feel at ease with you.
Additionally, we attempt to be in touch with a file every other day. Send an email. Make a telephone call. Do something that puts your file at the forefront of their mind.
If you have questions, get your Short Sale questions answered by Short Sale Specialists.
Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour
Also, follow Group 46:10 on their blog at Tempe – Foreclosure Short Sale Phoenix
Watch Kevin and Fred, Short Sale Specialists, on the Short Sale Power Hour. Video for Short Sale Specialists.
Posted in Short Sale
Fred Weaver is a founding co-owner of Group 46:10. He has been working in the financing/real estate business for over 7 years. Fred began his real estate career by working for a large wholesale bank as a processor and rate/lock specialist for home mortgages. After 2 years in the business, Fred transferred from the banking side of home loans to the mortgage side. While on the mortgage side of financing, Fred gained experience originating mortgages and processing files for Morgan Capital of Arizona, Inc.
Kevin is a founding co-owner of Group 46:10. He began working in the real estate business in 2007 after spending 8 years working in the finance industry for companies such as Bank One, Green Tree Financial, & GE Capital.