Be patient, I have the same thing. What you need to worry is your loan. Why, asked your loan officer when will your rate expires, since there is a delay on the short sale approval, make sure that your loan and rates are still good, remember, they are re-doing your short sale approval with a different loan amount, so therefore it will go to the board members to decide the acceptance and then recompute all the defference that they need to write off, so I may say another good 7 to 10 days. Be patient, it will come.

Just to let you all know I received answer from Indy Mac I got the house for appraisal price of 158,000 my offer was 170,000. So I am very happy!!!!!!

After 72-hours have passed (3-days), I would begin looking for another home. If they reply and/or accept your addendum you can still accept it before your next offer has been accepted by another seller. This sounds like a short sale, however, in this market, it's not uncommon to not have a quick response from the selling institution. Did you sign a multiple offer addendem?

In this market, so many weird and unpredictable things have occurred so nothing surprises me anymore. I'll bet they get back to you shortly, however, I would advise you to continue looking as only you can look out for yourself and your family. Hope this helps and hope you get your home.