In the last lesson I spoke of the critical importance of developing a follow up system when dealing with your Short Sale property.
Besides the obvious reasons of effective follow up, there are other reasons as well that you should be aware of.
One of the main reasons why I take the follow up so seriously is that from the first time I started working on these Short Sales, till the present time, things have changed.
It used to be that once a file was delivered to a person in the Loss Mitigation department, that person alone worked the file until either a Short Sale was worked out or the foreclosure ran its' course.
The benefits to me where that I was dealing with a single person at a specified extension or fax number that could be reached from time to time.
It made it easier to develop a working relationship with them and get a feel for what type of work load they had.
Back in the good old days (just a mere 3-5 years ago) you could even get e-mail addresses and communicate that way.
Things continue to change and dealing with the Loss Mitigation department is no different.
I must warn you though, even despite what appears to be a group project in dealing with these Short Sale properties on the other end, you must still try and gather contact names and numbers whenever possible.
I still send newspaper articles and information that I think will help to make my case regarding the offer that has been submitted.
The current situation seems to be that all the information received is loaded into a computer and whoever answers the phone in the Loss Mitigation department has access to the complete file via the computer.
This makes it hard to continue a conversation you may have had with one person regarding the file or an issue in that file.
Because of this group approach, I find it helpful to always ask for the name of the person I am speaking to and ask if they are the only ones handling this file at this point or will other call centers be involved as well.
I take notes on the conversations I have, I date the notes and put a time when I called on those notes.
I do this because when I go to this file for a follow up call, I can look at my notes from the last call and get up to speed quickly as to what I am following up on, who I spoke to last and the date and time of my last call.
If you are working as many files as I have going on at the same time, this is not an option.
The big lesson here is that these banks and mortgage companies may process these Short Sale requests one way on Monday and change how they are processed by Friday.
The ability to open a file and know exactly who you spoke to and what time and date is also very valuable.
If you run across a bank or mortgage company doing something new, please let me know.
I am always on the lookout for better ways in which to get these Short Sale deals done.
By: Clyde R.
Goulet National Short Sale Expert
Besides the obvious reasons of effective follow up, there are other reasons as well that you should be aware of.
One of the main reasons why I take the follow up so seriously is that from the first time I started working on these Short Sales, till the present time, things have changed.
It used to be that once a file was delivered to a person in the Loss Mitigation department, that person alone worked the file until either a Short Sale was worked out or the foreclosure ran its' course.
The benefits to me where that I was dealing with a single person at a specified extension or fax number that could be reached from time to time.
It made it easier to develop a working relationship with them and get a feel for what type of work load they had.
Back in the good old days (just a mere 3-5 years ago) you could even get e-mail addresses and communicate that way.
Things continue to change and dealing with the Loss Mitigation department is no different.
I must warn you though, even despite what appears to be a group project in dealing with these Short Sale properties on the other end, you must still try and gather contact names and numbers whenever possible.
I still send newspaper articles and information that I think will help to make my case regarding the offer that has been submitted.
The current situation seems to be that all the information received is loaded into a computer and whoever answers the phone in the Loss Mitigation department has access to the complete file via the computer.
This makes it hard to continue a conversation you may have had with one person regarding the file or an issue in that file.
Because of this group approach, I find it helpful to always ask for the name of the person I am speaking to and ask if they are the only ones handling this file at this point or will other call centers be involved as well.
I take notes on the conversations I have, I date the notes and put a time when I called on those notes.
I do this because when I go to this file for a follow up call, I can look at my notes from the last call and get up to speed quickly as to what I am following up on, who I spoke to last and the date and time of my last call.
If you are working as many files as I have going on at the same time, this is not an option.
The big lesson here is that these banks and mortgage companies may process these Short Sale requests one way on Monday and change how they are processed by Friday.
The ability to open a file and know exactly who you spoke to and what time and date is also very valuable.
If you run across a bank or mortgage company doing something new, please let me know.
I am always on the lookout for better ways in which to get these Short Sale deals done.
By: Clyde R.
Goulet National Short Sale Expert
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