Another Short Sale Approval

This market continues to change on an everyday basis.  I received 2 different approvals this past week, with the most interesting one coming from Countrywide.  Yes, you heard me right Countrywide (AKA Bank of America) called me and told me they had an approval ready if the buyer and seller could agree to a Net price from them.   So here’s the tricky part, the number was acceptable but after the title company did a little more digging to make sure there were no additional hidden liens the HOA popped up being short almost 10% of the sale price! Ouch!  So it’s back to the investor approval pipeline which could take another 30-45 days to come through.

As always, Patience & Persistence will come through for everyone again in due time.   Short sales are getting faster and easier, but they continue to wear on the market by driving prices lower and lower.