I just wanted to tell you that we have been trying to buy our first home and Chase is the sellers bank. They are HORRIBLE. We started this back in March. March 19th is the day we put our offer in and we are STILL waiting. I will NEVER EVER bank with them or use them for anything. They have left a bad taste in my mouth and made my first home experience a bad one. I'm so disappointed and frustrated. The worst part is that I can't even get excited about it. We are still waiting on the approval letter and our rate lock and application ends on the 29th of July. I need that letter by Tomorrow, I don't think it'll happen so I will probably end up walking away.

Good Luck. I am trying the same thing and have been waiting for 14 weeks today! Its a long process but if its something you love it may be worth the wait.

Did you find out if more than one offer was submitted to the bank? A REALTOR who understands their fiduciary responsibility is to the seller, and NOT to the bank will only submit one offer -- and then you have a good reason to stick it out while waiting for the banks. There's a great article I found on ActiveRain that i forwarded to many of my clients. Email me and I will send it to you. It explains the process very well. It's very frustrating. If you have not opened escrow yet and deposited your good faith deposit, you are free to keep looking and put another offer in elsewhere, especially if there are multiple offers at the bank. Sometimes they just want to get the highest price, and in essence, it becomes a bidding war. I always make sure that I know how the selling agent is going to handle the short sale BEFORE I write an offer so I can advise my clients on what to expect...your agent really can't contact the bank -- it's up to the selling agent, and banks really don't like to be bothered too often. Be patient if it's a home you love -- but be prepared to move on if you don't get an answer soon. I'd be happy to refer you to someone in our network who could help you in your area if you don't have a written agreement with your agent to represent you -- our office ranks in the top 1% of Century 21 offices worldwide, and I follow-up on referrals carefully to make sure my "clients" are well-represented, wherever in the world they are.
Bonnie Scribner

dolphin,You got some time for tx credit,couple things is its chase and if the agent who has the home listed,doesnt understand or know how to so these short sales,you could be wasteing time,ur Realtor should be able to tell ? If none of them seem to know much,Id be on a reo thats in decent shape,and press on,good luck,wish I could help ya up there.

TJ

Short sales in general are a long process. It is a very broken system that does take a long time. I am working on a short sale right now where the negotiator is pass his deadline and it has been escalated by his company but we still do not have an answer. Sometimes there is nothing you can do and you just have to wait. But that is one situation I do not know the specifics of your situation. Good luck with everything hopes this helped somewhat.