Posted on: 11th Mar, 2013 12:00 am
How long does it take for a mortgage lender to approve a typical short sale?
Hi Binn,
As far as I know, normally it takes 30 days to approve or disapprove a short sale.
Thanks,
Jerry
As far as I know, normally it takes 30 days to approve or disapprove a short sale.
Thanks,
Jerry
Hi Binn!
Welcome to forums!
I agree with what Jerry has said. However, it is true that keeping in mind today's market situation, it may take few month's time to complete the whole process.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with what Jerry has said. However, it is true that keeping in mind today's market situation, it may take few month's time to complete the whole process.
Feel free to ask if you've further queries.
Sussane
Some lenders can take up to 3-6 months on short sales, then once the short sale is approved, they want it closed in 30 days, which is almost impossible in todays mortgage market.
in todays market, it could take up to 1 yr. But, these days banks are not willing to do shortsale.
About closing, you can always get a few days extension if the closing was real close.
About closing, you can always get a few days extension if the closing was real close.