After 6 months of being 'caught' in the system with a shortsale...i've waited 5 weeks for the final letter of approval from the pmi company and the patience is wearing out.  I'd love to have the property but the place now sits there empty and god only knows what won't be working by the time they decide to send out the letter.  It was a simple shortsale...one lender...cash deal.  Maybe it just wasn't meant to be?

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First of all it doesn't take the MI company 5 weeks. It is probably the lender holding things up. Call the lender and ask for the name and number of the MI company so that you can call and find out what the delay is. I bet that they will say they have already sent everything to the lender. Who is the lender? Keep calling. Squeaky wheel gets attention. don't give up now. 6 months is nothing. Keep pressing on!!!
Thanks for your response. Evidently, it was the processing company and Chase because they let things expire and the package had to be resubmitted. so much for telling us the letter of approval was on its way, on its way...maybe that's what bothers me even more than receiving no information...being lied to. Supposedly the timeframe for Fannie Mae to approve was last Friday and if we don't receive the approval letter then it will be the fault of the company that's doing the processing for Chase (IBM). The crazy part of this whole thing is that mine was one of the quickest approved sales, initially. I 'get' that these industries were dumped on and thus begins the trickle down effect, however, their problem has become my problem for too long now. More files require more people to get the work done. The banks claim they're not in the business of real estate ownership but you couldn't swear that by me...it might actually serve them right for thousands of people to walk away and no government assistance . Anywhooo...if this goes to another extension, my realtor recommends I walk away as it will then be going on 8 months so time (14 more days, to be precise) will tell more of what my future holds. Btw, I've been told that as the buyer, I have few rights to call. And that oftentimes the squeaky wheel gets put on the bottom of the pile. But I do have to say...the attorney that is representing the seller is persistent and that gives me faith that some out there are doing their best.

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