Upcoming Foreclosures

VERBAL approval from 2nd Bank on short sale. NEED SOME ADVICE.?

A week ago the sellers agent who is in constant contact with the 2nd bank of my short sale (already have written approval from first) told my agent that we got verbal approval. He was expecting written approval to be sent over the next day but as of today he is still waiting on that. What can I do or what can I tell my agent to do or tell the other agent to do to get this DONE. We are 4 months into this and I am going absolutely crazy waiting for this. How hard can it possibly be to write out an approval letter??! The loan is tiny this one is for around 50,000, the first was for 700,000 and they got it done, this second bank has nothing to gain by rejecting it because if it goes to foreclosure wont they get 0 anyways??!! Someone please tell me how the heck I can speed this up, Last week we were prospecting that we would close on the 14th!! All of the inspections and all that are done.

Public Comments

1. Not much you can do but sit and wait and have your agent talk to the seller's agent who will call the second bank every few days. Remember that the folks at the banks are human with human emotions and constant contact may be annoying to them, causing them to slow down the process just to tick you off. Humans are human after all.