Monday, October 29, 2012

We Waited Longer!

Curbed featured a post about a song titled "I Wanna Live On Clifden Baby" that a buyer recorded in light of his frustrating short sale experience. I had a very similar situation last year. After waiting for seven months for short sale approval from Bank of America, my buyers decided to cancel escrow. They would have loved to purchase this home but they needed to lease a home to enroll their child in kindergarten Glendale unified school district.

These poor Clifden buyers have been waiting 169 days for short sale approval.  The sellers purchased the home in the height of the market in 2007 for $1,600,000. There are 2 loans, a 1st with US Bank for $1,100,000 and a 2nd loan with National City Bank for $339,950.

Click here for more questions and answers about short sales. 

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