22 Questions To Ask The Short Sale Lender

Are you at a loss for words with the Short Sale lender?  Here are some questions to pose when you check in on your Short Sale transaction status.  Even if you’ve asked some of these questions before, you may want to ask them again, and repeat certain questions on each call.  Many times, you’ll elicit a different answer or discover a problem that may help you get your approval more quickly.

1. Have you received our package?

2. Is anything missing from our package?

3. Has the loan been submitted as a short sale (or “referred” with Countrywide)?

4. Has a negotiator been assigned?

5. When will a negotiator be assigned?

6. How do you spell the negotiator’s name?

7. What is the negotiator’s email address?

8. What is the negotiator’s direct number, extension or fax number?

9. Has an appraisal or broker price opinion been ordered?

10. Can you order the appraisal?

11. When will the appraisal be ordered?

12. Have you received the appraisal back yet?

13. Is the appraisal value within range?

14. Has the second mortgage been “serviced released”?  If so, who is the new servicer?

15. Is there MI (mortgage insurance) on the loan?

16. Is the loan Fannie Mae, etc?

17. Is your company delegated (authority to make decision on approval)?

18. Can you read me any notes on the file?

19. What was the last action taken on the file?

20. Would you email the negotiator for me?

21. Would you ring the negotiator for me?

22. Would you connect me with the supervisor?