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Author: CCinOC Big funky green star, 20000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127684  
Subject: Re: Here's what to expect... Date: 10/13/2012 1:22 PM
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IP wrote: So the approval by the initial investor was quick, the holdup with the new investor looking to fund the purchase mortgage on this short sale.

No. The incoming LENDER'S approval was relatively quick--after all, I merely ran a DU and met the listed conditions--but the outgoing INVESTOR that stands to lose money took several weeks to approve the short sale price. Now comes clearance of the 22 liens.

No approval by the incoming INVESTOR is required.

A short sale shouldn't even be part of this discussion. It's an anomaly--albeit a frequent one in the current real estate environment.
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