Short Sales Success? It 's very hard here..I found last year, it seemed the banks were over worked and under staffed to handle them. I got tossed around all the time. I am seeing now, some better responses.. I am hopefully working one out after many months.. Another one, will not,, up for trustee sale now, that lender just will not take less than the appraisal, which as we all know doens't always reflect the market and situation.. I really feel for the sellers that tried to sell but couldn't due to this. Over all, we are seeing a bit of upswing ..
OUCH! Under contract 6/2/09 , short sale package sent 6/18/09 and it just sat at the lender. Called weekly , finally got a loss mediator assigned 9/1/09 sent more paper work and the buyer just got tired of waiting.
On the other hand, I just got one approved by a local lender in 33 days!.
I have found when dealing with National lenders the process is much longer. What have you been finding on your short sales success/ failure?