Oh my, ask any Sacramento home buyer today about Short Sales and they will give you an ear full. Not only do the banks keep everyone in the dark but so many of the agents keep both buyers and sellers in the dark, as well.
Communication is key in life. I keep saying it but so many are not listening. It’s so simple to send a quick email to the selling agent and for the selling agent to let the home buyer know what the listing agent has heard or not heard from the bank. Communication keeps everyone informed and with a buy-in during this long process.
Supposedly, there will be a government pay-off to the banks from the government (you and me) if they speed this process up. However, one loop hole is a short sale with a second mortgage. We’ll see in the next few months if this has had an impact with the banks on Short Sales or not.