Becky:
Having completed a number of short sales already, I can tell you with certainty that the service providers like "Countrywide" or other banks aren’t the ones making the decision in a short sale. They are just the middle man. . The actual owner of the note is an investor.
Many times before we see a difference in response times from the same bank. .it is just because they are two different investors.
A lot of foreign investors have purchased US real estate securities. .and they are now having to discount most of those loans. . one by one in a short sale
Read my blog about this subject here:
http://activerain.com/blogsview/537332/SHORT-SALES-in-MARYLAND
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- Sat Nov 15 2008, 03:56