Many people have a hard time believing that their lender would agree to allow them to short sale and walk away from the upside down debt. If you have ever gotten behind on payments, then you know how mean the debt collectors can be. The constant barrage of threats, demands, and phone calls usually proves to be too much for most people.
As a result they give up. Debt collectors are mean. But, it is a tough job (although I have no sympathy for them.) I know someone who used to work as a debt collector. He quit after a couple of weeks. It was just too harsh and depressing. They get on the phone every day for 8 hours of abuse. Some of the people they call scream at them.
Very few people are nice. It's probably very depressing because you hear about other people's problems all day long. The debt collectors become cold and callous as a result of the work. As a result, they take their frustrations out on the people they call. If you are trying to negotiate a loan modification or short sale, do not work with the debt collection people. They don't want you to modify your loan or keep your home. Why is that? Because they are paid bonuses on the money they collect.
They don't receive a bonus if you short sale or modify your loan. The debt collection people are an ugly, dull, almost useless tool. The lenders use them in a half-hearted attempt to get you to pay. You see lenders don't want you to short sale or modify your loan. They just want you to catch up your payments and start paying on time again. That way they don't lose any money. The debt collectors are the first line of offense. "Sic em", they say to the debt collectors, hoping they can convince you to catch up your payments.
Fortunately, when we negotiate a short sale we talk to a different group of people. These people work in a different department. They are not callous and cold. They don't hate their job. They are paid substantially better than the debt collection folks. For most it is an actual career. These people have training. They approve and deny short sales based on set criteria. Their job is to process the short sale, not collect money. They know that most people are selling their home because they can't afford the payments. So they don't bring it up.
We do all the negotiations and discussions with them. That means when you start the short sale process, you don't have to talk to the people at your lender anymore. We take over and handle everything for you. You can rest easy knowing that someone else will be negotiating on your behalf with your lender.
As a result they give up. Debt collectors are mean. But, it is a tough job (although I have no sympathy for them.) I know someone who used to work as a debt collector. He quit after a couple of weeks. It was just too harsh and depressing. They get on the phone every day for 8 hours of abuse. Some of the people they call scream at them.
Very few people are nice. It's probably very depressing because you hear about other people's problems all day long. The debt collectors become cold and callous as a result of the work. As a result, they take their frustrations out on the people they call. If you are trying to negotiate a loan modification or short sale, do not work with the debt collection people. They don't want you to modify your loan or keep your home. Why is that? Because they are paid bonuses on the money they collect.
They don't receive a bonus if you short sale or modify your loan. The debt collection people are an ugly, dull, almost useless tool. The lenders use them in a half-hearted attempt to get you to pay. You see lenders don't want you to short sale or modify your loan. They just want you to catch up your payments and start paying on time again. That way they don't lose any money. The debt collectors are the first line of offense. "Sic em", they say to the debt collectors, hoping they can convince you to catch up your payments.
Fortunately, when we negotiate a short sale we talk to a different group of people. These people work in a different department. They are not callous and cold. They don't hate their job. They are paid substantially better than the debt collection folks. For most it is an actual career. These people have training. They approve and deny short sales based on set criteria. Their job is to process the short sale, not collect money. They know that most people are selling their home because they can't afford the payments. So they don't bring it up.
We do all the negotiations and discussions with them. That means when you start the short sale process, you don't have to talk to the people at your lender anymore. We take over and handle everything for you. You can rest easy knowing that someone else will be negotiating on your behalf with your lender.
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