Most people believe or have been told that you cannot submit a hardship without an offer and an estimated HUD. This is a matter of whom you may be dealing with. I bet that advice like this was given by a lower level paper pusher who is following a script typed up by someone higher than them to convince you not to try. There is no doubt that as you talk to him It sounds like he knows what he is talking about, but that is because he reads it of the screen in front of him.
Let say that you listen to the advice that the man from the bank has read off the screen and hold off om submitting your initial hardship paperwork until you actually get an offer. Then you are going to drag out that escrow by an extra Four weeks just to get your file processed. Believe me when I tell you that four weeks is a conservative estimate with most banks. There have been deals with some lender and loan services that can easily take up to SIX TO EIGHT weeks to actually set up and order the BPO, broker price opinion. from the time they had received the file with an offer.
To shorten this time frame in a considerable amount, it would be nice to knoe that you can send a file in without having an offer. The trick to it though is that you have to follow-up REPEATEDLY and be working on getting an offer quickly. It is you that is responsible for keeping up on the status of your file and to make sure that the bank is moving forward at a reasonable pass.
When the day does come that you get the phone call from the lender/bank asking “Do you have our offer ready yet?” You should (hopefully) have one and be ready to say,”Oh yes sir, I have you offer right here along with the HUD, do you want me to fax that over or would you rather I drop it off?” (That’s if dropping off is available and in range)
These are just a small few of the strategies that I have developed and learn over the years, and I will be more the happy to share more with you after you contact me.