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How long should it take for final HUD review/lien release?

Posted by Marv Gladue on August 23, 2010 at 2:45pm in Short Sale Discussions
After patiently working through a B of A short sale, we finally got communication (and an approval) from B of A. Signed all of the paperwork and handed over a sizable down payment last Thursday. HUD sent to B of A for final review same day. By COB Monday B of A is still fidgeting with the HUD--no keys to the house. How long should it take for the final review and approval to be completed so that we can record with the county and finally take possession of our house?

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Replies

  • Bryant Tutas August 23, 2010 at 10:36pm
    HI Marv. Congrats on your closing!! The final HUD should have been approved by BofA PRIOR to closing. This is when it is reviewed. After closing they just get a copy for their records. However I'm sure as long as the numbers didn't change from when the deal was approved you'll be OK. They have 3 business days to review so the agent needs to get on the phone today and get this taken care of.
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