Buyers, sellers, real estate professionals and others are all wondering why short sale negotiations are taking so long!! It is especially annoying because in most instances the lender already has a number that they are willing to accept for a particular property. One reason that short sale negotiations are taking so long is that lenders are assigning the negotiations and document preparation to third party servicing firms that are paid HOURLY. It is in their best interests to delay, delay delay. Unfortunately this trend may not end soon but at least it is an explanation!
I am going to address another annoying aspect of why so many loan modifications are unsuccessful and why they take so long...
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