Question Details

Sc, Home Buyer in Illinois

Is there anyway to speed up the review process after submitting an offer to a short sale home? I've been

Asked by Sc, Illinois Thu Jun 26, 2008

waiting for a response for almost a month now.

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Answers

2
Ditto to the answer below for us lenders working on short refinances (current lender accepts a loss on the mortgage in favor of a new lender buying out the balance). Just got a short payoff approval yesterday after submitting the request in mid-April and following up many, many times.

Every lender is different due in part to their relationship with the investor(s) receiving the interest income from your loan. Some respond quickly; some don't

Patience is required; and ufortunately every day that passes in your lender's Loss Mitigation departmen will feel like 5 to you. Many of these folks are buried in requests.
0 votes Thank Flag Link Thu Jun 26, 2008
I know how you feel but there is not any way to speed up the process. I have submitted offers and received answers within a few short days and have also waited 4 to 5 months. As a Realtor I have talked with the supervisor but that has not always helped. If you love the home and it is a great buy wait it out it will be to your benifit. Lorene
0 votes Thank Flag Link Thu Jun 26, 2008
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