Lori Young, Broker/Owner

You know you have been doing too many short sales when your family starts calling you "Shorty".

Wow, two great short sale files from this servicer. Very professional experiance on both files. I want to give praise on a very large Realtor platform.

Jeff Hunter, outstanding communication. FIVE STAR SERVICE

Abigail Doyle, quick reply and positive attitude. FIVE STAR SERVICE

Sometimes we need to praise the outstanding employees for putting up with us.

Lori Young, Realtor and CDPE

Florida Home Realty

239-438-5061

At a turtles crawl Bank of America sorts through thousands of short sale offers. Can the servicer find some urgency in processing these files? I find myself growing increasingly immune to the lack of response from the short sale department. One can only think of what a big mess Countrywide created. Short blog entry for such a messed up situation.

I have had so many of my potential short sale customers tell me that the servicers told them there was no assistance for "good" borrowers. Well the policy WAS 90 days past due then we can talk if Fannie Mae is the investor on your note. Well, today we get the great new policy about helping out borrowers but now all the "good" borrowers who only were complying with the servicers directions are in a situation of being in default. Someone needs to fess up to President Obama and let his staff know that "good" borrowers had their hands tied and only followed suggestions for assistance. Where do these group of people fall?

My list of borrower's includes

Feel guilty, stopped paying and moved out. Renting in another location. I call them "borrowers with a conscience"

Feel like the mortgage broker screwed them or lied about their loan, staying put and not paying. I call them "educated borrowers waiting for the government bailout to trickle down to their wallet". Not going to happen.

Feel like working three more jobs, struggling to keep up with bills and fell behind based on the comments from the servicer. I call these borrowers "do rights following direction of the mighty servicer".

and last

Feel completely unaffected by the entire mortgage crisis. I call these borrowers "ghosts"

Just my thoughts on this entire mess. Try and help the little guy they need our help.

Lori Young, Realtor and CDPE

I hope my blog reaches as many strapped homeowners as possible. If you live in Florida and are looking at trying to save your home from foreclosure you have options.

First, you may contact your lender or if your lender hired a company like Titanium Solutions (Countrywide, WAMU and Litton) to facilitate a workout, assemble the required docs yourself. This is no mystery on what the lender/servicer typically needs from borrowers but I will cover what I see typically requested:

Borrower Hardship letter, financial worksheet, last two paystubs, last two most recent bank statements, w-2's, last two years tax returns. Ok, why a company would charge someone $$ to assemble your paperwork is beyond me. DO IT YOURSELF. The catch here is you have to have income to show the lender you can afford the modification. Any company who claims to be able to work a loan modification and charges you an advanced fee is out of line. Each servicer and investor for your loan has a different requirement. Don't think for one minute that these are cookie cutters and work smoothly because they are difficult. Put as much time into working out a loan modification as you did getting the loan in the first place.

Lori Young, Realtor and CDPE