06-17-2011 01:40 AM
I am waiting for a bank or lender approval for a townhouse for 3 months now. Of course I'm frustrated because I'm living in a temporary place, but after reading the answers you gave to the other users I feel I'm in for a 2 or 3 months more wait. , I pray not. The short sales was not explained to me fully before I decided the process. I didn't know pre-approved sales would have been better. What has come up is info about the property's delinquent HOA dues for the past 7 years, wow, I mean not being paid for this long. I did read what you said about HOA dues but for not these many years. Doesn't the association usually place a lien on the property or sue the owners? How could this go on so long without some action? My ex-landlord was sued by the association for 1 1/2 years delinquent dues where I was living after he lost the property. How will this affect the decision with the bank or the lender? I also would like to know who decides a property is a short sale and why, or short sale is the same as foreclosure? There are so many of them out there and the banks are so slow that it makes a buyers want to change their mind about the property. Also I didn't understand the sellers lenders had to approve whither they will except the short sale and at the price the sellers excepted and the lenders could ask for a higher price. I learn more and more each I read the blogs. I am glad I joined.. After reading all the info, I'm beginning to worry. Thank you
06-21-2011 01:51 PM
It would be best to have an agent local in the area answer this question for you. If possible, could you provide the city and state that this is regarding?
09-08-2011 02:41 PM
The property is in Bellflower, Ca. Also, why are almost all going short sale. I do not want to go throught short sale again. It is too stressful and the lenders take their own sweet time.