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Answers (7)
- user3555284
- Contributions:3
I am going through this now, as a seller. Waiting on the final HUD1 approval from the bank to finish up the short sale (waiting since end of last week), and we are supposed to close by end of the week as per Bank requirements (already extended the closing date). My agent asked the bank to expedite the file so we could get it closed, so hope to get it soon.
- jk91932
- Contributions:9
our problem is the sales agent tells us there were several"challanges" to over come (without elaborating) and the other thing is, our financing has been in place since Nov 7. My question is will my financing expire after 120 days or can it be extended beyond, since we ARE in a contract. We cant afford to wait for new financing approvals as we need to be moved by end of March. Looks like we'll be renting?
- Rita Zajic,Realtor-CDPE, "RZhomes"
- Contributions:29
It does not take to long for bank to review HUD1 and respond back to you. You should communicate with closing officer at the bank, and their manager. Call Escrow Company and find out if they already submitted HUD1.Call lender and ask for rate lock extension for few days, they are aware of situation with short sales process. You have to stay on top of the transaction.
- Kelly Erickson, "Kelly M. Erickson"
- Contributions:32
I'm just wondering if you've been scheduled for closing? Hope so!
kme
kme
- Kelly Erickson, "Kelly M. Erickson"
- Contributions:32
We've received our final Hud-1 approvals in a matter of just a few days...I hope the same for you!
- jk91932
- Contributions:9
going on two weeks now, and my interest lock expires on 2/27.
- Benjamin J Shoemaker, "BenatAlpha"
- Contributions:55
Well... Usually, there is a preliminary HUD-1 sent to the lender before an approval was issued to help them make the approve/deny decision. So the final figures once the approval has been issued should be eaily obtained... How long have you been waiting for this HUD-1?
Hud-1 has been submitted for final approval......
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