After analyzing my past and current short sales for patterns I've noticed with the banks, I've come to the conclusion that they are up to something.
It's not making sense that organizations that have the ability to put something into action within a matter of weeks (like notifying credit card holders their rates will go up) have not developed a streamlined short sale system.
I personally think they're intentionally stalling now that the market has stabilized for the most part, thinking that foreclosures may see more of a profit for them if they can somehow avoid a current short sale.
I've been hearing the "staffing" excuse for 2 years now.
We need to have some new laws drafted that favor the seller of the property if the bank does not approve (or decline for a valid reason) a short sale in a specified amount of time.
If the seller with the assistance of his broker manages to bring a valid offer for the property in a timely manner, then they deserve the right for an expedient approval.
