Well the offer got accepted on the normal sale and the bank is still screwing around with the short sale. They only have about a week left for the contingency date on the short which there is no way they will make. So, I will get my earnest money back on the short sale and my loan is almost done on the normal sale.
If you can afford the multiple earnest money deposits, you may want to consider not putting all of your eggs in one basket.
V.P. Marketing and Development
Quality Mortgage Lending
"We do FHA loans down to a 600 middle credit score"
"We do USDA loans down to a 620 middle credit score" (no money down)
"We do $100 down payment FHA program"
"Unlimited loan to value refinance on Fannie/Freddie refinances" (only on loans originated before May 31st 2009)
Lo que puedes hacer es empezar la financiacion , antes de tener la aprobacion , y cuando te dan el approval solo necesitas 3 dias y puedes cerrar .
Este procedimiento lo he realizado varias veces en Chicago , si tu banco te dice que no puede empezar la financiacion busca otro banco ...
Depende del banco y quien esta enviando los papeles , depende de la oferta ...yo he notado si es cash la revisan en otro departamento y es muy rapido .
Chase bank cierra los shortsale en 45 dias .
I agree with what Ute Ferdig said - make sure your agent is in constant contact with the listing agent.
I had one short sale offer last year with one of my Buyers that we waited over 3 months for, and ultimately it never got approved. All or most of the bank loss mitigation departments are overwhelmed, and it is not an easy process to go through.
Did your offer include a clause that you could withdraw your offer at any time prior to bank approval?
If so, you may want to continue looking at homes, and in the event you find something that you feel is worth pursuing, have your agent serve notice of withdrawal on this property and write on the other one.
All the Best to you.