You’ll have a better chance of success with the seller’s mortgage lender if you communicate intelligently with the appropriate contact person or department. You want to speak with someone in the loss mitigation department responsible for making decisions. You want to make a good impression and show that you are prepared. Loss mitigation personnel don’t like dealing with uninformed investors or agents. When you speak with the lender’s loss mitigation contact, find out what they think the feasibility of a short sale would be for this loan. Ask what information they need from you. The lender will have requirements. Ask that they be forwarded to you so that you may start the process of completing all documentation in a timely manner. Some lenders have their own short-sale applications.
Lenders do not disclose any personal information with out written consent, which means you won’t be able to go any father in your dealing with the lender until the seller has submitted written authorization.