Why Do they Call it A Short Sale When it Takes Soooo Long?
July 1st, 2009 categories: For Buyers
I am often asked by buyers and agents “How Long will it take to get an answer from the Bank” on a short sale?
This is a difficult question because each bank is different.
Currently, I am going for a new record for the longest Short Sale. On July 7, 2009 it will be 1 year and I still do not have an approval from the bank.
During the past year a lot of things happened like:
August 2008: Olympic Games of the XXIX in Beijing, China, from August 8 to August 24, 2008.
Michael Phelps broke the records for most gold medals in one Olympics and for most career gold medals for an Olympian.
September 2008: Hurricane Hannah does $160 million damage in US.
Oct. 2008: The $700 billion bailout of nation’s battered financial industry is approved by Congress and signed by Bush.
Nov. 4: Obama wins presidency, says “Change has come to America”
December 2008: Appollo 8 celebrated 40 years since its historic flight around the moon.
January 2009: Barack Obama is the 44th President of the United States
February 2009: Slum Dog Millionaires wins the Oscars as “Best Picture” 
March 2009 Without more bailout money, GM says it will be broke by March 31
April 2009: Novel H1N1 (referred to as “swine flu” early on) is a new influenza virus causing illness in people. This new virus was first detected in people in the United States in April 2009. 
May 2009: Justice Souter decides to retire from the Supreme Court and Judge Sonia Sotomayor is picked by Obama as the Justice to replace Souter on the Court.
June 2009: Michael Jackson Dies and shocks the world.
