Below is a horror real story of a short sale and foreclosure of a house in Pearland of which I was the listing agent.  The following is a copy of an email from the Home Owner in which I have changed the names of the bank and the Home Owner.

This is why I think our banking industry is in such a mess... They don’t know which way is up or down...

I called “The Bank” to ask if the dispute filed by my Real Estate Agent had been accepted. I was informed by the “The Bank” agent that the house had been foreclosed on that day. I asked her about the dispute and she said it had been filed but not reviewed.
(The remainder of the conversation will be repeated  in paraphrase)

Home Owner: We have been trying to get approval on a short sale for this property for six months.

“The Bank”: We haven’t gotten all of the information we requested.

Home Owner: What information have you requested that you have not received?

“The Bank”: In the review between 12-13-10, and 1-12-11, we did not receive the information we asked for.

Home Owner: What specifically did you not receive?

“The Bank”: We did not receive a letter of hardship.

Home Owner: I faxed everything you requested on December16, including a letter of hardship.

“The Bank”: Oh, I see we do have the letter of hardship. Well, we didn’t receive a listing agreement between you and your agent.

Home Owner: I know for a fact you have a listing agreement because I was party to a three-part conversation in December in which Mr. Franks got information as to where to send said agreement, he assured me he did so immediately after the phone call, and I called several days later to verify that the listing agreement had been received, and was assured by WF that it was.

“The Bank”: Well, if all you wanted was approval for a short sale, all you had to do was call.

Home Owner: Really? In all the hours I have spent on the phone trying to make sure you had everything you needed to approve a short sale, not one person ever said to me, well all you have to do is call. I was made to repeatedly send in information that you requested, including a listing agreement that was sent in three times, was told I was not approved, then told I was approved, then not, etc. etc.

“The Bank”: If you feel you have been treated unfairly you can write a letter explaining how and why you feel that way and ask that the sale be rescinded.

This, of course, is not nearly the entire conversation, but is the gist of it.

The Home Owner

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Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or https://www.har.com/. And for all of your Pearland, TX and Northern Brazoria and Galveston County real estate needs, please visit my site at: http://www.danfrankrealty.com. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.

Remember, Danny Frank is a local Pearland, TX Real Estate expert! You can see my entire blog at:  http://www.pearlandrealtyblog.com