IL is a redemtion state. I am hearing now, that these mortgage cos. are holding offers on short sales giving the sellers 30 days to redemeem there property still.They call the sellers and ask them if they still have to sell, and or, if they want to buy there property back. This is one the reasons why we are waiting so long to hear from the mortgage cos. To me it does make sense. If any of you have any other reasons on why they take so long please let me know.
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Luxe Places International Realty - Novato, CA
Broker - Seniors Real Estate Specialist Novato
I think they take so long because there are so many short sales and your file getting missplaced or in the wrong depertment at least once or twice throughout the transaction also.
Jul 14, 2008 10:35 AM
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