Hi all,
I'm in the process of buying a short sale through nationstar (just hit the 1yr mark earlier this month). Our approval letter date was to close by 11/14. We missed it due to my title company having issues clearing the title (house went from short sale, to completed sheriff sale but we are in the redemption period so we are processing the transaction as a short sale). All my financing is good to go now and can close on 11/22 (1 week late). Do you think the odds are in my favor of getting an extension? The sellers have a law firm who specifically handle short sales so the law firm has been handling everything. We knew we likely wouldn't make the deadline, so the law firm requested an extension about 9 days prior to the deadline. The redemption period doesn't end until January 10th.
Does anyone have specific contacts at nationstar that would help get an extension if the negotiator denies our extension request? I want to be prepared incase the extension gets denied.
We've come way to far for the deal to fall apart at the 11th hour because we needed an extra 7 days to close.
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The agent/negotiator should have requested an extension. Every time I have asked for extensions due to title or financing issues I have gotten them.They usually don't formally extend with a new demand letter until the day before or on the deadline.
They usually ask how much of an extension and are good with a 2-3 week out request. They will want a new hud1