There is most definitely going to be another wave. Taking a look at the Court calendar in Lee County let alone all the Lis Pendens there has been, we will be looking to more and more on the market. Coming from a banking background and knowing how many option arm loans that were written, we still have not seen the sleuth of loans that will be coming up for adjustment. Some people have forgotten about all of those deals. The Banks are currently buried with these loans and when looking to do a short sale, for a small investor, the big secret to it all, is make sure the package that your Realtor or lawyer is sending in has everything needed to be processed immediately. I have found that in my business now, that when the banks see a package coming through wit GFS, it will go to the top of the pile because they know that everything will be included to make a proper decision. It is all about paperwork. Honestly. Even when I worked for a very large bank in origination, the underwriters were the same way. If a file is complete, it will be looked at. If not, it goes to the bottom of the pile and you are looking at a time game.
Merilee L. Getty
Gulfcoast Foreclosure Solutions
239-738-2247 or 239-673-7810