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Posted by steele in minnesota on December 21, 2006 at 05:24:16:
In Reply to: WA home buying troubles posted by Jocelyn on December 20, 2006 at 13:19:42:
Welcome to the joys of shortsales. Sadly, it is not uncommon for problems to arise and shortsales to fall through. As mentioned in another post you have several critical parties needed to do one. The seller being one.
And if they don't cooperate... You are out of luck. I would keep trying. Try and find out why there is this resistance. Perhaps there is something you can do to help.
If a shortsale is "OKed" the foreclosure process should already be under way. But it will still take a while. From my charts it looks like about 4-5 months to get to Sheriff Sale and no redemption. You may want to ask the bank just where they are at in the actual foreclosure.
Short sales are not easy. This is just one way that they can be messed up.
Sorry.
Steele V. Propp
Foreclosure Specialist
Schatz Group GMAC
Minneapolis, MN
steelep@aol.com
http://www.MinnesotaForeclosureNetwork.com
