SHORT SALE-Time It Should Take? - Posted by Dell Webber

Posted by Barry (FL) on October 26, 2005 at 14:19:20:

I’ve had them take six months. Two months is more usual though.

HTH
Barry(FL)

SHORT SALE-Time It Should Take? - Posted by Dell Webber

Posted by Dell Webber on October 26, 2005 at 13:48:28:

Have a number of contracts for short sales with a partner that seem to be taking way too long.

For you veterans…I realize each mortgage company is different, but what are some rules of thumb for how long a short sale should take, once we submit the full short sale package, to reach agreement with the mortgage company?

2 months Minimum - Upto 4 mos. Max (N/M) - Posted by PJ

Posted by PJ on October 27, 2005 at 23:22:39:

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Re: SHORT SALE-Time It Should Take? - Posted by TSSP

Posted by TSSP on October 27, 2005 at 09:20:45:

seconds move faster that first mortgagees…

many factors at play: seller’s qualifications, type of loan, PMI, loan servicer vs. investor…

I’ve also had approvals take 6 months… but I tell all parties to expect decision to take from 45 to 60 days.