Banks Are Not Rational In Short Sale Process
Kevin and Fred have a special message today. In talking about what the theme of today’s episode would be, they resolved that it was time to deal with the things that occur in a short sale transaction that don’t make any sense. Reason and logic can be thrown out the window in a short sale. Lots of times Kevin and Fred find themselves saying “why is the lender doing that?” There are so many examples of positions that cause you to ask that very question.
A lending institution is apparently anything but logical. Lenders charging a fee to deposit money in an account are not logical. Taking a loan from a lender for $200,000 and then agreeing to repay them $100,000 isn’t rational either. The whole short sale process is not rational. Acknowledge that idea first, and you will be one step ahead of everyone else.
To deal with all of this unreasonable behavior, we need to appreciate that there are many things within this transaction that do not make sense. As Coach Collard says, we need to push back the need to know why. Bear in mind that real solutions come from a place of not always trying to understand. There are solutions and answers that are just not logical.
The lesson of the story is this. This is now and then an unreasonable world. Short sales are also not a completely logical procedure. The lenders do some very unreasonable things in the midst of these short sale transactions. So, if you are going to be a short sale agent and take on a client to help them elude foreclosure, you have to be sure that you can deal with the all of the unreasonable behavior.
Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona
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