distressed property: Why Do Short Sales Take So Long?
- 01/28/11 05:59 PM
"Why do short sales takes so long?" I get asked that all the time! "Doesn't the bank see that if they foreclose they will lose more money?" Well- will they? We have been in this depression now for a good four years. I have heard the banks time and time again say that they are trying to "ramp-up" their short sale departments. They are trying to expedite the time frames. Then why does it still take 90 days, in most cases, just to get them to verify they have it and they are in process? That does not seem expedited to … (6 comments)
A compilation of current Puget Sound market information, conventional wisdom, and local experience with a touch of humor. And occaisionally some stuff which has absolutely nothing to do with Real Estate.
"Why do short sales takes so long?" I get asked that all the time! "Doesn't the bank see that if they foreclose they will lose more money?" 
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