Patty Manzi’s Tri-Valley Real Estate Blog

Ah December, the holidays are looming, the end of the year is near, and it sure would be nice for all parties concerned to have a conclusion to this situation before 2010 is upon us.  Uh….no such luck however.  The bank seems to have taken a vacation too…..

First phone call of the month I am asked by their automated answering system to enter the loan number.  I am given a recorded message that “A workout specialist is reviewing the file and the next update will be available on December 28, 2009″ .  Really?  What happened to the 10-15 working days?  What about the negotiator being assigned by December 14th?  I pressed the “0″ button to be transferred to an operator and requested the short sale department. I was disconnected.

It was at this point that many things became crystal clear to me. The reps on the other end of the phone ask for my information (same questions each time I call), then they read a script on their computer screen which is everything takes 10-15 business days.  At this point we are approaching 60 business days and I feel as if we are right where we started. 

I called back and was told by a different rep that a short sale negotiator HAS been assigned.  I am not overly excited at this point becuase I have been mislead before and dont beleive anything they are saying now.  However, I was given this persons name, but no contact information.  I was then advised the negotiator now has 4 WEEKS, or 20 business days to contact me.  If I havent heard from the negotiator at the end of 4 weeks, I can call back and request an ‘escalation’.  I wonder what that means. Do they actually get out of their chair and go put a sticky note on someones forehead?  I guess I will have to wait and see.