A Home Died Today - Are lenders stepping up or back?

Ok, I will start out with full disclosure. I am frustrated to no ends with Ocwen, I am working with for a client on a short sale. Unfortunatly, the lender decided to go to Auction/Sale on this short sale with 1 good offer in hand and 3 strong ones behind it. Makes no sense to me, much less my client!

I get sometimes that hard decisions need to be made. But what I don't get is when stupid (yes, I said stupid) decisions are made due to a lack of interest or that it can't be fit into a process. Maybe that is because we are calling India to get answers these days from Lenders. Sorry, side note, but don't you think some unemployed americans would be willing to work a graveyard shift and a homeowner would feel more comfortable talking with someone who had a vested interest in getting their issues resolved.

I am sure their are millions of stories based on the frustration that we as a community are feeling with lenders. I ask the question today, why are we putting up with it. I am amazed and shocked at the service we receive. We understand the questions to ask, just think what homeowners get when they are trying to get answers.

We as Realtors are the backbone and the driving force behind success with these distressed situations! But do you think lenders feel that way? When was the last time a lender called you to give you an update on a short sale? How much paperwork have you resubmitted and resubmitted, due to their inability to keep a file together. How many times have you spoken to a customer service person that is rude, trained only in providing yes and no answers. How many times have they countered a buyer or buyers to get the best offer, How many buyers have walked away due to delays, no responses, etc.

Do you see anyone going out of their way to resolve these issues? I do and it is us Realtors! Unfortunatly, I don't see much progress being made with Lenders to look at us as Partners. Maybe we should stop handling short sales, let the lenders handle the marketing, showings, staging, cleaning, crying, the list goes on and on.

My goal is not to put a further drag on the emotions of Homeowners or Realtors going through the hurdles of getting these transactions closed. Personally, I am not sure I have the stomach for it. I would like to see companies, associations take a more proactive approach with Lenders to develop win/win solutions that help Homeowners and yes, Realtors. How many of us would like to be able to count on a commission check when dealing with a short sale. Better yet, how many of us have counted on a commission check, only to see it cut or gone as the deals fall through?

Looking forward to your shared thoughts!

Kelly Turbeville is one of South Orange County premier Real Estate Advisors focusing in the Saddleback Valley and the communities of Lake Forest, Portola Hills, and Foothill Ranch. Whether she's helping a first time buyer accomplish the goal of homeownership, or coaching a homeowner on venturing into real estate investments, Kelly is committed to making it happen! For Kelly, it has never been just about selling you a house! Her success comes from developing a business that is a trusted place to turn to when you need anything Real Estate!

It's Possible!

The above information is provided as an opinion and is deemed reliable but not guaranteed.