Since the beginning of my Short Sale experience, I often wondered why a lender would:
1. Decline a short sale
2. Foreclose
3. List the home for thousands less than the original short sale offer!
Another question pops up. Does that Seller have any recourse? If not, why not? The actions of the lenders ultimately hurt the Seller. (The neighbor down the street got their short sale approved.)
The Seller now has a foreclosure on their credit report. We have yet to see what kind of damage that may cause for the Seller in the future. Is this an act of discrimination or just incompetence by the lender?
I personally believe it is just plain incompetence. So if one of us is incompetent, we lose our license. If the Doctor errs, he is held accountable. The attorney? The accountant? Why not the lender? Is this lender our new sacred cow?
Along that same vein, Countrywide should have some liability for taking many months to approve a sale, lose the buyer, who probably died of old age waiting, foreclose and then resale the house for a much larger loss. Again at who's expense?
Where is the accountability? These actions hurt all of us!
Our real estate values decline even further.
Thousands of dollars are spent in the REO process. (We are paying for this)
In the end it is costing the taxpayer, consumer and homeowner.
Associate Broker Pre Foreclosure Specialist, Short Sale Negotiations, REO Agent, Full time real estate career since 1976. Snohomish County, WA.
It is hard to believe I have been in Real Estate full time since 1975. The market has changed many times throughout my career. Todays market is the biggest challenge of all.
(I read someones post that tickled me so much it is worth repeating.)
As soon as someone tells me they have been in the business for soooo many years I expect some thing really stupid to follow!) This still makes me laugh,
Maybe because I totally believe it, although it certainally would never apply to me! 
In 2007, the handwriting was on the wall. Short Sales were here to stay. Prior to this, I had dabbled in them a little and that prior experience gave me an edge.
My motto for working pre-foreclosures is FLEXIBILITY. Once you think got "IT", "IT" Changes.
Puget Sound is my market area. Mostly Snohomish County and King Counties.
Presently, I do the negotiating with the lender, yes it is time consuming but I believe the benefit to the Seller has outweighed the time commitment.
Closing a Washington Short Sale provides huge personal satisfaction for me. Helping homeowners through the hard times is my primary goal. Homeowners need to know the options available to them. When stress takes over someones life, it is hard to see clearly and know there are solutions out there.
I spend many hours exploring ALL opportunities with my potential clients. Sometime a short sale is the best option and sometimes it is not.
When a homeowners best option is to short sale they still deserve proper representation and respect. With my experience and knowledge of the short sale process I do believe I am the most qualified to help these homeowners.
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