Suntrust Short Sale
Suntrust is one of the largest and they are also one of the most consistent banks to deal with. They don’t always work very timely but they have some things that make the short sale process with Suntrust much more easy.
Currently the Jarvis Team in Atlanta is completing most short sales with Suntrust in 90 days or less. There are a few exceptions. In particular, Suntrust system is only as good as your negotiator. So if you are stuck with one that takes a longer time, there really isn’t anyway to push them along.
In January of 2010, Suntrust stopped giving 60 day turnaround “guarantees” to homeowners and agents alike. They are simply overwhelmed.
The best part is that Suntrust policy to not put the name of the buyer on the letter allows the seller to find another buyer without being reset.
In general, Suntrust has the same short sale process as other banks, they simply take longer than Wells Fargo Short sales do and they are shorter than Bank of America Short Sales.
Here’s the pdf file that Suntrust has on Short Sales.
Suntrust Short Sale Department Phone Numbers
General Short Sale Department info: (800) 443-1032 Option “3”
Loss Mitigation Dept: (800) 634-7928 option 5 to enter specific extension
Auth Fax: (804) 291-0134
Loss Mitigation Fax: (804) 675-7399