Saturday, April 17, 2010

Banks and efficiency - loan foreclosure specialists

Well this may not be news to some of you, but getting through to a live person and receiving information about your account is harder than crashing a party at the White House.

First you verify your account with the recorded greeter, press your number and speak to a live representative. Sounds easy, doesn't it?

NEXT you have the great joy of verifying all over again, your account number, full social security number, your name, mailing address, property address with zip code and any phone number. If they still doubt you then they ask if any of the numbers are cell phone.

All this just to ask full payoff. If a lawyer has become involved then those fees are added on and they can't tell you over the phone. What the heck? They have taken you through security, verification, stripping and still can't tell you information on the phone? Our loan foreclosure SPECIALIST ordered a request for another fax to be sent. Now you may not realize it but we have had a couple wanting to buy this place for 2 weeks. In fact, there have been two parties interested in buying the home. The reason I wanted the payoff amount is to sell the place. So, I asked the representative if we could call the buyers and send a fax of payoff to them also. Patiently the representative waited, as a three way call was initiated with the potential buyer, to fax the information to them as well. There should be no room for errors now unless the phone and fax lines all over the country go down.

We have now called 3 times in the space of a week and a half. Today, after 5 minutes of being preapproved to talk about our account; they said the fax had been sent and sorry they could not tell me over the phone the payoff. It's not allowed. Further it would be another two days so probably Wednesday since today is Saturday. For crying out loud, my buyers have already had to wait 1 week longer than they wanted for an answer.

I'm asking the bank to remove lawyer charges, on the basis that the lawyer acted prematurely during the time the bank said it was working with me and would not start the process. But initial reaction is that would be a short sale. I find a buyer for the full amount of loan (miracle) and they want it considered a short sale???? To those that don't know, a short sale means even if you can recover financially you cannot buy a house for about 2 years. If you sell in full you will be able to buy again as soon as you recover financially and credit wise.
This house we did not want to sell, it is our rental house that we wanted to retire to. It had good renters and while it did not make us money it was a goal for the future.

Does anything here sound crazy to you - or is it just me?

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