SHORT SALES IN ARIZONA
Im in Phoenix. Has anyone noticed the huge surge in people doing short sales here that have no idea what they are doing? Please, if you are in Arizona and have no idea how to do S/S, private message me BEFORE doing a short sale and I will help you. Lenders here are making it tougher and filtering more packages due to the huge amounts of S/S packages they are receiving that are incomplete or not done properly. Countrywide reps have 200+ files per rep on short sales for Maricopa County alone. They are rejecting 30% of the applications due to improperly filled out packages. These numbers came from one of the reps I deal with at Countrywide. If we are not careful, we could soon very well see some bad changes coming our way.
I think this problem is everywhere. Short Sales are the craze now. Everyone is trying them even when it really isn't called for.
Tom