LBPS Approval??

I have done many short sales, but I am just starting my first short sale with LBPS ... wondering how they work with us ... when I list the home, do they want to know immediately, to get the approval, or wait until a purchase contract is received?

Any documents besides third party authorization and financial statment required?

Any assistance or guidance would be much appreciated!

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Permalink Reply by Michael Hayley on January 5, 2011 at 9:55am

I just got an approval (Settlement Offer) from IBM-LPBS. Contract date 10/20/2010. BPO was done 11/23/2010. Approval letter today, 01/05/2011. No counter offer, included a release from deficiency, $3k to the second, full commissions; the prop was non-owner occ. I was rather shocked it went so well (thus far). I kept re-reading the Settlement Offer looking for a catch.

See the lender specific docs on the IBM page of this site.

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