questions for buying through short sale!

myt444

LoanSafe Member
Sep 4, 2008
2
0
0
hi I'm new at this website forum and I have a question I was hoping you can help me with.
I'm in the proccess of buying a house through short sale.the bank we are dealing with is central mortgage company.
does anyone know how they are with short sale if they are quick or slow?
And how much lower can I offer from the loan.
and how can I speed up the process?
thank you,<!-- / message -->
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,851
467
1,000
49
Southern California
www.loansafe.org
If you are working with a real estate agent, which I would hope that you are, you would need to direct these questions to them.........
A short sale time frame can be quite long.............but you are the buyer.......and it is the sellers' lender.........so unfortunately you are at the mercy of the sellers' lender and the timeframe that they are on.........
 

myt444

LoanSafe Member
Sep 4, 2008
2
0
0
My question for you was if you know how this specific bank works.wether or not they are faster or slower than normal.I am aware that it is a long process.I've done much research.But I haven't found out how much lower I can offer....can you give me an example?
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,851
467
1,000
49
Southern California
www.loansafe.org
I am sorry, but you are asking a question that is not able to be answered here on this forum.............

Each investor has their own bottom line net that they need to recoup losses, but it would vary on each portfolio...............so we wouldn't know the answer to your question.