GMAC Short Sale Practice Improving

Often times we laugh throughout this show, but we have to maintain a positive approach because reflects on our firm and we want to keep that encouraging attitude to work with the lender and get short sales closed swiftly. So, although we have to be hard with them, we try to uphold a positive approach.

This is accurate with GMAC, which is our new preferred lender after venting yesterday in relation to Wells Fargo. GMAC is using Equator which is a short sale file management system which helps negotiations between us and the lender. It is awfully useful. We are working on a folder that is moving as fast as we have ever seen. They did send us a counter offer that was a speck high, but overall, GMAC has been extremely easy to deal with. We had the property listed at that price for close to a month. So, at present we do like GMAC. We merely want you to recognize that there are optimistic things happening at the bank.

When we get an offer that nets them a good percentage of what they are losing we have a improved possibility at closing the folder. If you are an agent, one of the most important things is to note is what the BPO comes in at. They have been telling realtors the percentages that they are trying to net recently. So, if you identify the BPO and you know what percentage the lender is attempting to recoup, you will be in front of the game. You will also know whether you need to dispute the file and get it closed in a timely way.

Thank you for tuning in to Short Sale Shift. If you have a home that you would like to short sale in Minnesota, please do not hesitate to speak to us today.

Minnesota Short Sale Shift can answer your questions. We are Minnesota’s Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota