No sure tg… A few weeks back there was a poster who worked in a loss mitigation group. I thought he was the most valuable contributer we have had here for a long time. I wish he would come back.
Right now even if my clients do get an offer, it will take the lender between 10-21 days to simply respond to the offer. Lenders all differ in their responses but I have heard similar short sale stories. When you peruse the MLS the best thing about buying an REO is that it is NOT a short sale so the processing is much quicker.
I am with you though… I would agree that if I were a lender I would jump to get through a short sale as opposed to going through the default process, trustee sale, then relisting it as an REO only to get the same sales price or less. Especially with inventory piling up.
You know those lenders though…they are way way smarter then any of us peons so they must be correct…
