Home Buying in Lombard>Question Details

Joe Climaco, Home Buyer in Lombard, IL

Wondering why the property on 517 Rosebud Drive is still under contract since April 2012? This is short sale?

Asked by Joe Climaco, Lombard, IL Sat Feb 9, 2013

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This question was asked from this property: http://www.trulia.com/property/3080579817-517-Rosebud-Dr-N-L…

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Yes, you are correct it's a short sale and has been contingent since April 2012. The mortgage company was Merrill Lynch so it was probably bought by one of the top four and servicing rights moved.

I do short sales and currently have 2 from April of 2012 - the servicer is taking for ever and despite us providing all required paperwork they continue to delay.

You never know why certain short sales take longer than others. Every single one is different - same servicer but different investor, different values on bpo, mortgage insurance, too many variables so all we can do is make educated guess.

There are currently 8 townhomes available in Lombard that are 2 bedrooms + with at least 2 baths ranging from $159,900 to $219K

Contact me and I will be happy to send you a list.
0 votes Thank Flag Link Sat Feb 9, 2013
This property is listed as a short sale at 219,000 and yes is under contract since April. One one mortgage but its for 363,000 which is a significant difference. Should not be taking this long, the agent and Attorney have a large hand in how fast it goes. But if the seller is not forthcoming with all the documents the bank needs that does not help either.
0 votes Thank Flag Link Sat Feb 9, 2013
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