I am on hold waiting for REDC to explain to me what "marketing period" is. She claims it is the amount of time allowed by them to handle a short sale. I say it is the amount of time an active listing is allowed on the market before the cooperative short sale expires. IF a purchase contract is not received within the marketing period of 90 or 120 days the coop short sale is declined. Otherwise the coop short sale must conclude to its end.
A purchase offer was signed two weeks after…
ContinueAdded by Christina Waymreen on April 15, 2013 at 3:52am — 1 Comment
I have had a cooperative short sale since November. It was going smoothly except for the poor communication, We had a buyer within a week of listing. We accepted all their terms even though they put the blame on others of why the file was losing the race against the tortoise. Blah..blah..blah..Fannie Mae...blah..blah..blah..This month I get "3-4 days and sending approval" with the usual nonsense attached to it.
Then BLAME. Quote: We have received…
ContinueAdded by Christina Waymreen on April 9, 2013 at 5:29am — No Comments
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