We have delivered the hardship package already. Everything is in place at the lender and these people do not have any assets for the lender to chase down. I had a long talk with one of the people in the loss mitigation group for this particular lender about the current pricing. Not only do they insist on the processing time to respond to the offer, they give no insight during the listing period about whether they will accept something in the price range or not.
The bottom line is, that even with everything in place and ready to go, the lenders are being quite uncooperative working with short sales. Now perhaps that is being driven by the sheer volume of short sales and the lack of staff to handle the crush. In my mind it would make common sense that if there is an REO down the street with the EXACT same floorplan and that has been priced the same as this short and is still sitting there unsold, that a lender would jump at any offer if we indeed received one.
I absolutely agree with your points however at least with the lender I am dealing with right now, they are not showing any cooperation or motivation at all.
