Follow Up Calls and Faxes Short Sale Loss Mitigators
At a bare minimum you should communicate with the loss mitigator at least once per week. Let's assume you have twelve weeks to negotiate a short sale before the property is lost to foreclosure. We're talking about communicating with the loss mitigator a whopping 12 times. That is certainly not to much to ask for the amount of money you can make in this business.
After the initial communication with the loss mitigator you may need to get them a few items or you might just be in the 'hurry up and wait' part of the ballgame. The loss mitigator might be saying we need an offer at market value or we are not intersted.
They are interested but you have to play the time game. touch base with them weekly to see if anything has changed on their end. My favorite way to contact them is with the Status Request Fax shown below.
This let's them know you are there and interested in working the short sale.
As the foreclosure date approaches you will want to speak directly with the loss mitigator and become for assertive with the negotiations. Our system contains multiple faxes to send to the lenders ranging from friendly to aggressive.