Short Sales… Don’t Do It!
June 21, 2010 by EdHenne
Filed under Housing Market
Short sales in Tucson! If anyone tells you the lenders have to respond in a given time, DON’T believe it!!! On April 24th 2010 there was an offer written and submitted to PHH Mortgage on behalf of my client. According to all the new rules the lender had 21 days to respond. The listing agent was told, ” We haven’t gotten to it yet.” She was also told that there would be a negotiator assigned to this account no later than June 7th. As of today, no one from PHH Mortgage has responded to the offer.
OOOOOOOOOOOOOOHHH the seller was notified today that the lender was foreclosing the property on Friday, the 25 of June.
I took it upon myself to e-mail the office of senator Jon Kyl both last week and again today to ask for assistance, and no response from there either. Last week I was told Senator Kyl wouldn’t be in Tucson again until vary late in the fall. To add an additional insult his Phoenix office told me the only way to communicate would be through his web site!! I guess I’ll have to find some one who gave large amounts of money to his last campaign before I can speak to the Senator in person!! Our elected officials wonder why the public is so pissed off at them. Maybe, just maybe they should take the time to talk with the average voter (By the way, Senator Kyl isn’t up for reelection this year. He has a couple of years left on this term.)
If your thinking of selling your home on a short sale DON’T!! The time and brain damage isn’t worth it!!! Make a smart business decision and give it back to the lender, or let them take it!! Your purchase was a business decision just as it was the lender’s to make the loan and take the home as their security. If I’m not mistaken, in just two years you’ll be able to purchase another home under the new purposed government guidelines.
My last word for today is your government has given the banks Billions… what help has been offered to you?
Ed Henne
Office: (520)918-5989
Cell: (520)465-8000
ed@edhenne.com
Feel free to comment below. We love hearing from you.
