Tuesday, May 13, 2014
Short Sale Nightmare - Help?!
My husband and I are attempting to close on a short sale. The house is bank owned (By two banks: One is the mortgage bank, one is the equity loan company). Our bank, and one of the banks that owns the house, has everything done. The second bank, Bank of America, has been delaying the house for a ridiculous amount of time. After we had the house appraised, they sent in someone to do another appraisal. We believe this is because the house dropped a lot in value, and they weren't happy about it.
Our offer on the house was approved by all banks involved a while ago, and all the paperwork is done. We're basically just waiting for Bank of America to release the house… But they won't. After the appraisal they did, I'm sure there was paperwork, but is taking 3 weeks to process it normal? We're getting kicked out of this apartment soon, and we need a place to go!
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