Interesting that they were last minute listings here in the Palm Springs, CA area. One in North La Quinta and the other in West Indio..both had Sale Dates set of approx. 21 days out. Both Sellers had been denied Loan Mods and were at wits end and OVER the banks!
Chase has always been tough for me, but this Short Sale was approved and sale date postponed within 3 weeks! We are now about 3 weeks from closing which is amazing considering it's a VA loan. Had to get around the Seller non-allowables, but so far, we're moving to close.
Wells Fargo, on the other hand, has always seemed relatively sane in my Short Sale dealings, so it was no surprise that they pushed their Sale Date back and gave me some time to maneuver my HAFA docs into position. Just received the approval and we're set to close 11/7.
Now..as we all know, getting approval letters, HUD-1's corrected, net sheets in order, inspections done, tenants moved, and whatever else can happen during the closing stages, does NOT guarantee a close and a pay check in the Short Sale Ether World. But..it appears today that things are moving along as well as can be expected.
Focusing on Equity Sales today. I've got an offer to write!! Equity Sales are still happening in my area as long as the Seller can list their home for a number that WORKS with the current market.
I'm listing and closing about 50% equity Sales and 50% Short Sales so we're running neck and neck for 2011.
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