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Replies (2)
yeah, that is a bit excessive. Who is the lender involved? Do the real estate agents/attorneys have experience with short sales? Is anyone calling the loss mitigation unit to find out what is going on? Way too long to wait- something isn't right. 6-8 weeks tops to hear back. 15 weeks is obnoxious.
- Luis Napoleon, "REUSANapoleon"
- Contributions:52
The lenght of a short sale will depend on the lender. It also help if whomever is negotiating the short sale paints a clear picture for the negotiator about market condition, home condition, and local economy. All those factors have a lot to do with how much the lenders are willing to discount. It used to be anywhere from 45 to 60 days for a short sale but due to the increase in volume it has changed to 75 to 90 days.
long shortsale
My co-worker has been waiting on a shortsale for 15wks..isn't that too long? She hasn't heard anything.
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