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Can anyone tell me how long it takes Fannie Mae to approve the short sale? Last week it went to FAnnie Mae.?
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HackedB     Reply with quote
l am on day 50 and our short sale has gone through all the channels, and was submitted to Lein holder one and also Lein holder two. l am hoping we will get an approval and l hope soon.Can anyone tell me if they have gotten to this stage and then been denied?Thanks for all your input...
The morgage owed is less then what we offered by almost 50K.Also l believe the second lien holder to be either for the property taxes owed or a special assesment put on by the homeowners association (only 2K).l am unsure on the Realtor commissions.
Wil     Reply with quote
It would be difficult for any one to give a realistic answer based upon the few facts provided, but in general ur main problem lies in the fact u r trying a short sale with two notes,

Hard to say if the second lien holder will take the deal, how many cents on the dollar r u asking the second note to take? What is the real estate agent commission on the whole deal? Yes it’s very realistic that the second lien holder will reject the deal

Remember unless the second lien holder is willing to do the deal u have no deal on the short sale
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