I’m not trying to derail from the main subject, but I’d like to dig a little deeper and understand how would this action impact a Bank’s prefference on short sales vs. foreclosures. In my mind, if I were a bank, with the MERS fiasco & potential costs associated, I’d hate the idea of foreclosure & try to get any short sale deal done ASAP……Of course, I’m trying to find a reason to the madness as I’m awaiting answer on a short sale offer(2 weeks later). The bank in question is one of the big ones that initially claimed no issue w/ the robosigns or confidence in the paperwork, yet later, it admited that may have found some irregularities(that’s my personal biass).
