Tuesday, September 1, 2009

Sacramento Short Sale Extension Saga Continues...

If you read my post last week regarding the fact that short sale approval extensions are just not guaranteed, keep reading...and if you did not read that post, keep reading anyway.

Approval for this particular short sale expired yesterday on 8/31/09. The buyer has not been able to perform and close her loan. In fact, as of yesterday (and thus far today), the buyer's loan documents have still not been received by Placer Title. UGH.

A Trustee Sale (foreclosure...the end of the line...auction on the Sacramento County Courthouse steps) had been scheduled for 9/8/09 - next Tuesday, right after the Labor Day holiday.

Well today, I won a small battle in my quest for a written short sale approval extension. While I have not yet received a written short sale extension, granting us extra time to close the escrow, I was successful in my request to postpone the date of the Trustee Sale from 9/8/09 to 10/1/09. WHEW!!

So my battle continues...at least at this point my listing will not be foreclosed out from under the transaction, and with continued hard work, phone calls, and hair pulling - we may just get this short sale transaction closed yet! What an emotional roller coaster for the buyer ane seller!!

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