RE: Some entity is sriciveng the loan, and if their sriciveng is causing unnecessary losses to the entities holding the loan, I would think there would be liability. But beyond that, the entities holding the loans should establish guidelines. If they can approve a short sale once an offer comes in, there's no reason they can't approve a sales price beforehand. The issue is how quickly they do what they already do. There is no question that they can do it.The short sale may not eliminate the deficiency, and if there is a second, it's probably less likely to eliminate that deficiency. And if there is a second, the second would have to approve the process too the first cannot force a decision on them.As to your last comment, it SHOULD be a preferred remedy for the bank, but they are too slow processing the transactions. It's a combination of arrogance and stupidity that leads them to a least preferred result.Finally, I agree short sales are not a good solution for everyone. That doesn't mean, however, that when someone does elect to go that route that they should have to suffer through the bank's neglect. Rate this comment: 0 0

by Sandi 06:37:17 AM 2012.12.09