I never thought I would see the day that US Bank did anything in a hurry. In ten years in the business I never saw a short sale with US Bank take any less than a year (minimum), and with good reason US Bank landed at the very top of my list of the worst lenders to work short sales with.
But it seems even the king of lost documents, unresponsive negotiators and endless frustration gets it right sometimes!
My client had been attempting loan workouts for years without success and had finally decided to call it quits and sell the home. Unfortunately, she had bought the home at the height of the market and it was worth about half of what she owed, leaving a short sale as her only option to avoid foreclosure.
The home went on market and a month later a buyer was secured. I prepared my client for the usual runaround with US Bank and the long road ahead.
Much to our surprise a short sale approval letter seamlessly arrived just 4 weeks later! A few weeks later the property closed with my seller walking away debt free from her upside down home and with a $3,000 incentive check to boot!