Caren,
Is this an REO property (listed for sale by a real estate agent on behalf of the loan servicer AHMSI) ,or a short sale property (listed for sale on behalf of the current homeowner)? The answer determines what dept of the co. is handling the transaction. If it is an REO property then the AHMSI REO dept has an asset manager assigned to the property, they have it listed for sale with the listing agent, and your agent should be working with the listing agent to get you an answer on your offer. Most likely there are multiple offers on the property.

If this is a short sale, that is handled by the Loss Mitigation Dept, and they are totally backed up and you might not hear anything for months. The financial incentive for the mortgage cos. right now is to work out a loan modification with the current homeowner due to recent offers of help by the Feds, so I think alot of the motivation for the loan servicers to do short sales has been sidetracked.

I do know that AHMSinc just obtained 185,000 assets (homes & mortgages) from Citi Residential and they are totally slammed. I had 6 sales pending with Citi before the transfer, and after a month + we are finally closing some of them. See the attached article.

Hi Caren,

No surprise there.

All the lenders are hopelessly qualified to do the foreclosures. Also, they make money by continuing to service the loan.

They actually do not own the loan, they are servicing it for Fannie Mae or Freddie Mac so they aren't the ones that lose money or really care what it sells for. They are middle men with no motivation.

Stick with it. Flood them with phone calls, Fed Ex, certified mail, etc.

Best of luck!

Fred