We were in the process of requesting an extension on our short sale approval because we needed more time for the city to process some paperwork that was file. And the bank said that a short sale option is no longer available due to the history on the account. I assume they are referring to the fact that we had already received a short sale approval extension prior to this, that extension was due to repairs on the property having to be done to appease the appraisal inspector. The bank advised the only option now is a loan mod, which is not possible for my client. Does anybody have any advise or experience with this? The bank is select portfolio servicing by the way.

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Do you mean was the original loan an FHA>(Sellers Loan)

And if it IS and FHA short sale? 

FHA sales take longer, but I don't know SPS to service FHA sales.



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