We have two deals that Citi has countered our offers on and we thought would be approved within days. They all of the sudden we get the dreaded email. We can't approve the short sale because the clients are current. Mind you I told the clients that if they wanted to keep their credit intact keep up the payments. One of them had been out if the home with a job transfer for almost a year. Crazy I know but some people still care about their credit. So the mitigator told us that we can get it approved when they are 30 days late. I said "So since they just made this month's payment and it is the beginning of the month that we have to wait another 60 days?" She said "Yes." Oh Boy! I can't believe it. I with a clean conscious have told people we have done many short sales with people who are current so don't worry. What do I tell them now? It depends on your lender? Oh you have Citi? Then don't make your payments. I can't do that.
The other loan it was the PMI Company that said the same thing. Unless they are behind we won't approve it.
I would love to hear others comments on this subject.