Short Sale Roulette - Brought to you by Citi Mortgage

It doesn't seem possible that the banks are still unable to streamline the short sale process after at least 2 years of doing the higher volume that they claim is slowing them down.

My latest bank is Citi Mortgage. After spending over a week trying to fax over my short sale package to their regular short sale faxes I was able to get an agent to feel sorry for me and give me a fax number that actually worked! Apparently they main fax numbers are handled by some processing company which scans everything into their customer database so all agents have access to the information.

If volume is such an issue I am sure there are plenty of fax vendors and software companies that can resolve the problem with busy faxes, insufficient memory, etc. by selling them updated equipment able to handle the volume. Coming from a technical corporate background - the hardware and software are available...stop paying the CEO Millions and invest in the right equipment to handle the volume of short sales or loan modifications currently in the pipeline.

I guess that would make too much sense so instead their customers and those of us that are trying to help get their non-performing assets back into hard money they can use have to suffer with their lack of thinking.

With at least 30 days before a negotiator is even assigned to my short sale package it appears that my latest short sale will be another lesson in patience, patience and even more patience. You know if they admit to 30 it will probably be even longer.

With a great 3 bedroom townhome in excellent shape in a bedroom community of Aurora, IL (Montgomery) I will hopefully be able to keep all the players together through this process.

So I will keep you posted on my trials and tribulation with this large player in today's housing market. Will they rise to the challenge or will they fail....to take advantage of the offer! Stay tuned.....and pray for me :)