Ms. Inman, I am very well aware of MY state's DPL, what the definition is of a DHC, and the ability to determine who really should be providing options regarding homeowners debts. Unfortunately, one of the reasons agents were listed in the law for more accountability in the first place, was due to shady dealings, misrepresentations and misuse of the title of Realtor by some licensed 'professionals'. This still occurs, but the law was so poorly written and encumbered to many areas or regular real estate agent responsibilities... it had to be changed and we probably haven't seen the last of the changes I'm sure. This doesn't not mean EVERY agent is bad, but in our area... there seems to be some very uneducated ones...I can't speak about other areas. I did not make my statement lightly and without forethought regarding the need education among Realtors, I have spoken to many Broker friends and associates, that admit their agents are not educated enough and invite me to speak at their offices.
The 1.53% or 1.78% excise tax or transfer tax required by our state, in my experience has never been the cause or need for a short payoff. Prepayment penalties sometimes, late charges, increased arm rates, past due interest at accelerated or default interest rates, drop in market values, the old 125% loan to value loans, yes, all causes... but never seen it due to our excise tax.
I apologize to site members however if I have wrongly been allowed to join this site or misinterpreted who may answer questions or offer insight to questions asked here. My posting below is the first time I even knew it even existed. Honestly, I'm really usually too busy to actively participate anyway and will honorably cancel. Besides, I didn't realize the question was "Who is the best Realtor who processes short sales?" or I never would have responded in the first place. I would like to before signing off however, that it seems quite shallow and uniformed to discredit ALL Short Sale Processing Companies without personally knowing or dealing with them all. Besides... aren't all Realtors the best Realtor ever? = )
If you read below... in my statements, I have never said... my company is the best... I don't need to state that. Not only are there other good and qualified SSP companies out there, but mine has remained a successful company basically by referrals only, for more than a decade, which I think speaks for itself. I enjoying sharing what I've learned processing over 800 successful short sales with my small company and I have been in more transactions where the Listing Agent has given incorrect and improper advice to their distressed Seller/Clients, than I'd like to ever hear about. So, as I mentioned before, I believe education is the key.
The same mortgage companies loan to borrowers and their properties all over the country. We and many other qualified processing companies can process short payoff requests on properties located almost in any state... and we have. But frankly, some states are so depressed and values are so low, it is not financially feasible for my company to occassionally process short payoffs on properties in those areas.... but we do offer consulting services.
If you have a secret for fast tracking short sales with Fannie Mae, Freddie Mac, VA or FHA and their servicing mortgage companies such as Chase, Bank of America, Wells Fargo, Saxon and other overwhelmed and inundated companies... by all means... share with the group! I'm always open to hear and even impliment new successful ideas and processes, because one never knows it all, right?
So Short Sale Processing Companies... don't be offended.