What does "escalate" mean in short sales?

Asked by Nola, Hartville, OH Mon Aug 13, 2012

I am currently waiting on written approval from lender 1 in a two lender short sale. The Equator system gave us a counter offer, and we accepted.

I was told it could be a week or two, it has now been three. The negotiator working for the seller told us they would be "escalating" the file this week. What does that mean and what is the likelihood that this will be approved once it is escalated?

Lender 1 is AHMSI and Lender 2 is Citibank.

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Short Sale Mitigation, LLC’s answer
Short Sale M…, Other Pro, MA,
Mon Aug 13, 2012
BEST ANSWER
It means the negotiator has reached out to upper management, or another department that oversees the progress of the file internally and can likely rectify any issues the file is having progressing forward. The expectation of the file and the reality of what is happening usually will trigger an escalation request.

Maryann Little, VP Mitigation
The Short Sale Closer!
http://massachusettsshortsales.net
978-384-0032
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Mon Aug 13, 2012
Moving it up in the list of things ahead of it to get it to someone to look at and deal with. It is a good thing.
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