Challenges of Short Sales

Yesterday I had a third appointment with a prospective short seller. The first appointment was more than a month ago. I gave them a packet of documents (samples of hardship letters, a financial statement etc) and told them time was of the essence. They were already five months behind in payments but the bank had not notified them of a foreclosure YET. After several unanswered calls and a week or so later, they gave me a couple of the documents and promised to get the rest to me within the next day or so. Again several calls later to set up another appointment to get the remainder of the documents, another week or so goes by and a few more documents are delivered. Finally yesterday and I got all of the documents needed (they filled out the financial statement while we were meeting) and the next question out of their mouths was when did I expect to have bank approval.

This is definately a challenging niche I have chosen for myself. I suspect that the same behavior I described above is what has lead to some of these clients personal challenges. Oh well, on to dealing with the bank. I am sure they will be much more organized and cooperative and get everything back to me in a timely way.