Right now I am in the middle of 4 short sales in the Highland/New Paltz area of NY. One closed Monday. I see the banks becoming more cooperative. I, personally, want to have a contact with the bank I am attempting a short sale with. Communication is crutial. I work with the seller to supply everything to the bank as soon as I know the deal will be short, and submit everything as soon as possible after an offer is accepted by the seller, along with the purchase offer and preliminary HUD I submit comps of recently sold and active listings. One of the most frustrating things is that we have people doing BPO's that have no clue about our market.
Short sales are a lot of work but I agree it is rewarding to help out people who are in a financial bind.
Barbara Carter John J Lease Realtors 845 505 3160 http://www.UlsterNYHomes.com