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Problems with short sales? You bet!

By
Real Estate Agent with Exit Realty Expertise

Anyone else having trouble getting their short sales approved due to an investor?  I am working with a client who has done everything right, followed the steps and made an honest effort to keep his home. However, the bank that owns the note, who has had no dealings with my client except for cashing his checks, refused to modify the note. On to the short sale, and our contract is ignored by the bank.  Not approved, not rejected, simply ignored.  After 6 weeks of processing the file is closed and the account put into foreclosure. Why aren't these banks being held accountable for their lack of response and failure to maintain good faith? 

If you want the more detailed story you can read it on my other real estate blog at raynelsonrealestate.wordpress.com.

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