Comments on: Short Sale Guide for Real Estate Professionals

By: No wonder bank fail

No wonder bank fail — Tue, 29 Jun 2010 13:19:13 +0000

We have been waiting eight (8) months for some action, any action from Sun Trust on our short sale bid. We have been assigned two negotiators and two BPO’s have been done. But, still no answers or questions from Sun Trust. We are in the same position we were last October 09. We have passed on other properties figuring that this couldn’t take this long and that we would have been settled by now. This property has now been unoccupied for almost two years without any electricity or air conditioning. It seems that Sun Trust is willing to let this asset deteriorate.

By: Larry Mikkelson

Larry Mikkelson — Mon, 26 Apr 2010 20:10:25 +0000

I represented Buyers in a short sale with Sun Trust and after seven months never recieved an approval from them. They finally auctioned the property after the listing agent asked for a postponement of foreclosure. I would have been ecstatic if I would have recieved an answer with 3 months. My Buyers lost their loan lock, postponed moving plans, gave up their hopes and dreams.

By: Roxanna Lieblong

Roxanna Lieblong — Fri, 15 Jan 2010 02:30:44 +0000

I just wanted to stop in and let you know that I really liked this post. It was full of fresh information and creativity, both of which we always can use more of.

By: SunTrust is the worst SS lender ever

SunTrust is the worst SS lender ever — Wed, 06 Jan 2010 15:35:00 +0000

I am having a dreadful experience with Sun Trust. SS file submitted in September and on January 5th it is still in “set up” department. No escalations that they can do for me. No help whatsoever. BPO was never ordered and a negotiator was not assigned since it was submitted. Did someone had a file approved in a reasonable time with them in 2009?

By: SunTrust is the worst SS lender ever

SunTrust is the worst SS lender ever — Wed, 06 Jan 2010 15:33:59 +0000

I am heaving a dreadful experience with Sun Trust. SS file submitted in September and on January 5th it is still in “set up” department. Noe escalations that they can do for me. No help whatsoever. BPO was never ordered and a negotiator was not assigned since it was submitted. Did someone had a file approved in a reasonable time with them in 2009?

By: D. Pike

D. Pike — Mon, 02 Nov 2009 21:00:07 +0000

I am a buyers agent representing the buyer trying to purchase a Suntrust clients home short sale. The buyer was full of such hope as to this process and having an answer in the time frame published by Suntrust. The time frame is way off and we are still looking for an answer. I know you cannot speak with me regarding the loan. I would like to be contacted in regard to timing or have you contact the listing agent as I do have an adress. Your consideration regarding this matter would be appreciated.

By: waiting, waiting, waiting,

waiting, waiting, waiting, — Tue, 28 Jul 2009 18:22:22 +0000

I am trying to purchase a short sale home that suntrust holds the second mortgage on. We sent in the contract with all the correct paperwork at the end of March and still have not heard anything from Suntrust. I feel this time-line is completley inaccurate. We are the ONLY contract on the house and the bank which holds the first mortgage has accepted the offer but suntrust has dragged their feet for over 130 days…. And any phonecalls to the “short sale negotiator” by the selling agent usually are not returned.

By: Shelby Hughes

Shelby Hughes — Sun, 17 May 2009 13:15:30 +0000

I am currently trying to buy a short sale home and the owner’s lender is Sun Trust. We started the process on February 12 (first offer). Sun Trust called with the appraisal value on Good Friday, and we countered. Finally, on April 14, we signed a new contract with the “bottom line” cost that Sun Trust said they needed. We are still waiting waiting and waiting some more to get the “short sale approval” so we can move on. We don’t want to risk renting our current house to someone else without this approval (because if our house rented and this deal fell through we’d have nowhere to live!) I feel like Sun Trust is dragging their feet on this…it’s been WAY past the timeline given in this article.

By: Loan Modifications

Loan Modifications — Sat, 11 Apr 2009 07:16:30 +0000

Very well written. This is the kind of information that is useful to those want to increase their SERP’s. Keep up the good work.