In the business of short sales when you finally get a bank that makes a solid effort to effectivly handle a file you feel like telling the world.

We have a GMAC short sale insured by FHA.  We have found lately that Bank of America and Wells Fargo have been so SLOW on their FHA files that I am almost falling out of my seat to see an Approval To Participate (ATP) letter from GMAC 36 days after sumitting our offer.  

If you are not in the Biz you might think that is still a long time but several of our B of A short sales (FHA) have taken months to get the ATP and then another month to get the actual approval letter.

Thank you GMAC for doing a decent job.  If more servicers/lenders would work this efficiently we could have closed nearly double our numbers last year in Spokane, Washington.

 
This post has been included in Washington Real Estate News Spokane County, WA Real Estate News Spokane, WA Real Estate News
Post is included in group: Spokane Real Estate
Post is included in group: Short Sale Specialists & Pre-Foreclosure Education
Post is included in group: Short Sales Specialists
Post is included in group: Spokane, Eastern Washington & North Idaho Real Estate Network
Post is included in group: Short Sales

0 Comments on GMAC FHA Short Sale On Its Way to Approval

Login or register to leave a comment
 
Rainmaker_large

Matt Side

Spokane, WA

More about me…

Alliance Short Sales

Address: 3911 N. Cedar St., Spokane, WA, 99205

Office Phone: (509) 747-1101 x 2

Email Me

This is a blog that journeys through the process of a short sale. We will discuss shortsale negotiations, pricing strategy, BPO, and even how to postpone foreclosure auction dates.



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find WA real estate agents and Spokane real estate on ActiveRain.