There is not much we can do for you from afar and not part of your transaction.
You can find temporary living quarters and wait for the short sale to finalize â€“ one way or â€“ you can seek another house.
Several years ago, I processed short sales with the invaluable assistance of Lisa Hayes**
North American Title Co. We closed some and those took 5 to 8 months. Several
did not close due to lack of prompt decision making on the part of the lenders. They
subsequently went on to foreclosure; the listings were turned over to another agent !
In short, I never got paid for all of my efforts.
My advice; think twice about the value of your time before you take on a short sale if you
are an agent. If you are the homeowner, be patient ; find an inexpensive place to stay
or move in with a friend until the short sale is completed.
** Lisa Hayes is now with another firm. Call North American Title for her new contact #s.
She is by far the best in the business of advancing 'Short Sales' to closing.
Broker, CRS, ABR, NCE, SEC
stimson KENNEDY Realtors
Cell: 303 478-9494
Unfortunately for you, rates have increased and if you are using FHA, you might be subject to paying the mortgage insurance for the life of the loan.
If my response was helpful, consider clicking BEST ANSWER!
Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(631) 659-2011 Office
(516) 918-5383 Fax
If you are in a bind, and it has been over six months, it is probably time to look for another unit and cancel your short sale offer if you can find something that is actually for sale.