Shortseller

I am currently going through a short sale. We got a fair offer for the property and submitted all the paperwork to the two banks that I have loans with. The first bank approved the short sale right away but the second bank was dragging their feet. It was impossible to get in touch with the 'negotiator'. We were coming down to the wire and the buyer didn't want to give us any more extensions. I really didn't want to lose the property to a foreclosure since a short sale is better for my credit than a foreclosure.

Someone suggested that I contact my local Congressman's office for help. I called them on a Monday afternoon. That same day they faxed me a privacy release which I sent back right away. They contacted my second lien holder Tuesday morning and by Tuesday at 5pm we had our answer.

My advice -- if you are the seller in a short sale situation and you are stuck waiting for the bank's approval -- contact your local Congressman's office and have them help!

Because of that one phone call my short sale is now approved by both banks and it only took about 30 days for everything to go through.

Short sales don't have to be a nightmare if you are organized from the start and know who to call when you need help! - Sat Jun 13 2009, 08:36