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#448747 - 11/09/15 11:12 AM Re: best/worst short sale banks [Re: papa lou]
John_Myers Offline
Member

Registered: 08/09/12
Posts: 43
Loc: NM, USA
US Bank is the worst. They told me they had everything they needed on November 18th 2014. By May 5th, the buyer walked and US Bank still had not given us a decision. Oh and by the way, we provided them an offer at full list price that they gave me.

US Bank is absolutely by far the worst in my opinion.
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Myers & Myers Real Estate






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#448748 - 11/09/15 11:17 AM Re: best/worst short sale banks [Re: papa lou]
John_Myers Offline
Member

Registered: 08/09/12
Posts: 43
Loc: NM, USA
US Bank is the worst, I forgot to mention in the last post. I have had the home under contract 4 times. We took them to court and the judge ordered the person with direct knowledge of the short sale from US Bank to show up in court in 2 weeks. Amazing but we got approval a week after the court ordered them to show up in court.

I have another US Bank short sale I am working right now. Same old stuff, they have everything they need and still no decision after 4 months. It is incredible. I hope there is a class action law suit filed against US Bank as they are abusing their clients when it comes to short sales.
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Myers & Myers Real Estate






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#448985 - 11/19/15 08:01 PM Re: best/worst short sale banks [Re: papa lou]
John_Myers Offline
Member

Registered: 08/09/12
Posts: 43
Loc: NM, USA
US Bank is the worst of any bank I have dealt with.

I received an offer on July 2, 2015 for a short sale listing. The offer was submitted to US bank along with a HUD1 a few days later.

We responded quick to every request for information.

After 4 months of waiting patiently, the buyer decided to walk away from the deal on November 17, 2015.

I informed the seller and she decided to let the bank foreclose on the property. She did not want to get drug through the ringer again.

I have another short sale with US bank and they pulled the same crap and I put the home under contract 4 times and we had to hire a lawyer to take them to court. We have not closed on this deal and will need an extension. I will see how that works out.

US Bank continues to be the worst bank for short sales. At some point I would expect a class action at some point in time. I am sure they are pulling the same stuff on many other clients.
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Myers & Myers Real Estate






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#448990 - 11/20/15 06:27 AM Re: best/worst short sale banks [Re: John_Myers]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2197
Loc: Outer Banks
Originally Posted By: John_Myers


US Bank continues to be the worst bank for short sales. At some point I would expect a class action at some point in time. I am sure they are pulling the same stuff on many other clients.


Banks are not required to do short sales so what would be the basis of a class action lawsuit?
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#448991 - 11/20/15 06:36 AM Re: best/worst short sale banks [Re: papa lou]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7520
Loc: Vermont's North-East Kingdom
This thread might give someone a "Heads Up"; but really . . . . you don't get to choose.

If you're an Agent, having to work a Short Sale, whether by choice, or because a Listing of yours just drops the bomb on you that they don't have any equity and aren't servicing their mortgage anymore . . . . you're going to be working with the Lending Institution that originally made the loan.

That's the Bank, Credit Union or Mortgage Company who the Mortgagor chose at the beginning of the Marriage when everything looked great and no one ever anticipated they'd wind up in Foreclosure or Divorce Court. It was a "good loan" (as they say!) . . . . at the time they got hitched. Weren't they all ?

As an Agent, you don't get to choose . . . . like so much in Life, you have to work with the cards you're dealt !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#449249 - 12/05/15 08:02 PM Re: best/worst short sale banks [Re: papa lou]
John_Myers Offline
Member

Registered: 08/09/12
Posts: 43
Loc: NM, USA
Just closed my nightmare short sale with US Bank. We presented US Bank with 4 offers at their approved short sale price. This bank is by far the worst short sale bank I have ever dealt worth. Worked my butt off for a listing at $85,000. Definitely not worth the effort. I am not sure I will ever do another short sale with US Bank. By far the worst. I will not be surprised to read about a class action law suit against US Bank. I will not be surprised to read about US Bank throwing away short sale files.

VA Home Loans

Myers & Myers Real Estate


Edited by John_Myers (12/05/15 08:04 PM)

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