Navigating through the short sales sea can be a challenging adventure... to say the least...
Most of the time there is MUCH more to complain then to compliment but today, I received a very pleasant surprise.
I submitted a complete short sale package to GMAC (the first mortgage) on 11/20/2008, followed up the next day to make sure the fax was received-it was. I called back to follow up 10 days later, Dec 1st to make sure of the sure that everything was ok, and I was told that the file was complete and I should expect an answer between six to eight weeks... 6 TO 8 WEEKS? AHHH.. That's an insane amount of time to make a decision on a complete file, that has an offer that is above market value.. but ok.. what can I do. I was told to call back in two weeks...so I made a note on my calendar and updated everyone involved in the transaction.
Today... less than 20 days from submission-Thanksgiving holiday in between- I received the short sale approval from the loss mitigator. WOW. Good job GMAC!!!!!
Help lots of people and have a great day!
Patty Da Silva, CDPE©, RESS®, AHWD®, e-PRO®, GREEN, CFS, TRC, RSPS
BROKER - REALTOR® Serving South Florida ::: 954. 667. SALE (7253) ::: Green Realty Properties®
Visit www.PattyDaSilva.com &www.GreenRealty.net for SouthEast Florida's best properties.
Copyright © 2008 - 2011 By Patty Da Silva, CDPE©. All Rights Reserved.
Legal Stuff: This article (Contents) reflects the opinion of the author and it is not to be considered legal advice. The author is not an attorney or a CPA. If you are in need of legal or tax advice, it is recommended that you to contact a trusted professional advisor.
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Yes I have an offer on one of our short sales with GMAC...I have to submit it today so hopefully it goes like your deal...great work those short sales are always exciting.