I am within 20K of fair market value. Will they counter offer a few thousand? Do they just say No. Is there a typical scenario? Can they leave me hanging for months on end? I know my expiration date means nothing.
What is average time for a response these days?
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Tags: 20k, Dept, Expiration Date, Fair Market Value, Loss, Loss Mitigation, Mitigation, Negotiates, Sale, Short, Typical, Typical Scenario
One Response to “What Is The Typical Way A Loss Mitigation Dept Negotiates A Short Sale?”
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Filled Under: Mortgage Loan Modification
January 11th, 2010 at 2:18 am
You are most likely to get a yes or an ignored. A no if you are lucky.
A counter is unlikely.
You need to worry about the percentage you are of FMV, not the amount. 90-95% should be a go.
You are correct about your expiration date, they could not care less.
Average time is 6-9 months.
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