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SS Approval Letter from Bank
My husband and I have been going through the process of purchasing a short sale. And, I just received an email from my real estate agent with a copy of an approval letter from the seller's mortgage holder. However in the email chain the seller's agent says that they are now starting the process with the second lien holder. The seller's agent has been somewhat clueless throughout the process, making promises that she couldn't keep, and new wrinkles cropping up. So I'm not sure what to believe. Here are the facts:
We have a letter from the seller's bank approving the deal.
The offer went to Freddie Mac (seller's mortgage investor) and was approved.
The letter states that closing must occur on or before 11/25.
We have an email chain talking about getting approval from the second lien holder.
I'm not sure how we can close on or before 11/25 if the second lien holder hasn't already approved the deal (the second lien holder is the same bank as the first lien holder) so I'm hoping this is more cluelessness from the seller's agent, but nothing would surprise me at this point. I want to be excited, but this has been quite a process and I'm not sure what to believe anymore.
Anyone have any insight on what all of this means?
Re: SS Approval Letter from Bank
Our home had 2 liens, the second which we didn't know about, but with were with BofA. They were both listed on the approval letter we got at the same time. I guess one was a credit card or small loan because they only gave a little over 1k to that lien from the sale.
Believe me, I know how much it sucks!