Short Sale Help

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Short Sale Help

We put a offer in on a short sale about 5 months ago. Last month we were told that it was approved and that the bank wanted to close by the end of the month. A week before we thought it was going to close we get told from our lawyer that they never got all the paperwork from the sellers attorney. We check with there attorney and are told that they didn't realize that their client and 2 mortgages on the house, and the bank only approved 1 of them so far. But it shouldn't be a problem because the same bank holds both mortgages. 

        In the mean time because of the lawyers error, my family is all packed up because we thought we were moving. We have given notice that we were going by the end of the month.  Well now it's been 3 weeks since, all this happened, and everyday i call their lawyer and i still don't have any answers. Is there any recourse ? Is there any way i can get in touch with the sellers bank myself and try and get some answers. At this point I am desperate. I am between a rock and a hard place because of this error. Before we were told we were ok with waiting. Now we might be without a place to live very soon.  I don't belive a single word that comes from there  lawyer. The only answer she gives me is I call everyday, and leave a message and they are not returning my call.  Please help ... or at the very least point me in the right direction.

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Replies

  • The sellers bank is not going to talk to you because you are not authorized. Looks like someone dropped the ball, not sure how they would not know there are 2 mortgages when working a short sale.  Unfortunately most banks have different departments handling the first mortgage compared to the second mortgage and each could have a different investor.  I dont handle the never returning calls thing, you may want to pay them a visit to find out what is going on.

    Who are the short sale lenders involved?

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