Talking To Loss Mitigation Supervisors
There will be times when you are not making any progress with the loss mitigator. This could happen for a number of reasons including:
- The Loss Mitigator does not care.
- The Loss Mitigator is unable to do anything.
- The Loss Mitigator is an idiot.
- The Loss Mitigator is working higher priority files.
- The Loss Mitigator is overworked.
If you are not satisfied with the direction of the short sale negotiations request to speak to their supervisor. This is an avenue you have available and one you should always take when needed.
Will it offend the loss mitigator? It may, but this is not your concern. Your goal is to negotiate a successful short sale and if a loss mitigator is not returning calls and not working with you then you have very few viable alternatives.
It may be that the lender is unable to accept your short sale offer or anything remotely close. But you have to find out and when things stall with the loss mitigator you must go over their head.
And, you should do it with confidence! The facts remains if the lender ends up taking the property back as an REO it is likely they will net less than if they accept a good short sale offer. Help the supervisor see the light because you have everything to gain and nothing to lose.