Thanks for a glimpse into the parameters you use Surveyor. Hope that place in Bama has closed and you are flowing over there.
jp we may be saying something similar and no you are not dense. Don’t be confused with the bank not being motivated to sell verses just having a very poor processing. It is what it is but short sales are taking from a few weeks to many months to process. A client of mine submitted a purchase offer for a short sale back in early October and we are still waiting for acceptance! Early October!!! I have a short sale listing in Lakeside and we go an offer early in the fall. It took the lender close to 12 weeks to respond and by the time they did, the buyer was long gone. Fortunately we got another offer a few weeks ago and the response has been much better from the lender.
Per some of the posts we have seen, right now we have reached a foreclosure rate that is equivalent to the PEAK RATE in the last depreciation cycle. Lenders who are already losing money hand over fist refuse to staff up to cover this tsumani of default processing. It is incredibly frustrating.
