Short Sales are listed to be APPROVED, and that's just what has happened...again here in La Quinta, California.

5255 Avenida Obregon, La Quinta, CA. 

Primary Residence with one note with Chase.  Sellers were relocated for work. 

Listed and approved in approx. 90 days. 

Approx. Note value: $165,000

Approved at $135,000.  Not a huge write down for the Lenders, and they were…

I have to admit that I have not done any B of A COOP short sales before the one I am currently handling.  Not out of choice, it just seems that I don't get the Short Sale listings until it is long past a pre-approval situation.

This Seller, however, was only a couple months late and…

Short Sales are NEVER smooth.  Even the pre-approved by the Lender Short Sales, commonly called COOP (co-operative) with B of A, and varieties of that with Chase and a few other Lenders.  Even then..they have to get final approval by the Investors and all Short Sale List Agents know that can take some time...or only a few days!  Hey, you just never know.

After 5 years…

This is a good article about why the MERS system helped to create our current foreclosure crisis.

MERS issues in Foreclosures continue..

Short Sales are obviously being pushed by the Lenders because…