The elusive short sale of a SunTrust mortgage has undoubtedly caused many REALTORS to question their chosen field.
The first Short Sale that I ever accomplished was in 2007 and it was a SunTrust Mortgage. Back then, it was very smooth. We spoke directly to the loss mitigation negotiator within a week, we had an answer from the bank in just under 3 weeks, we received the clear to close letter and went to closing within 5 weeks of the offer.
Long gone are the days of "short" in the Suntrust short sale. Most often we wait at least 60 days to finally be assigned a negotiator and then another 30 + to get Suntrust to sign off on the short sale. That's 90+ days for a Suntrust short sale....very painful for everyone involved.
During the 90 days the…
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