Bank Accepted our offer now PMI must accept.. Whats this?

[Michial]

Originally Posted by whatsnext11

Wow thats a long time.. The Pmi approval on my end went pretty fast so I would give it another week or 2 and then decide on what you want to do also with it being the holidays alot of people are taking vacations so things may be running behind because of that! Are you thinking that your going to be paying the prom note is that why it may cost you between 2,000-5,000?

Not sure. She indicated we may not have to pay anything or it could result in a payout between $2,000 and $5,000.

[Nelly1996]

Originally Posted by Michial

Not sure. She indicated we may not have to pay anything or it could result in a payout between $2,000 and $5,000.

Hopefully you hear something before Christmas...

[LizzyNola]

Will someone explain exactly what you mean when you say that the short sale situation will end on Dec 31, 2011??

What happens?

Is that good news for those who may be considering a short sale?

Is buying an REO property as big a problem as the short sale has been?

I was considering buying a short sale property because the prices was absolutely perfect, however I have heard nothing but negatives about the short sale process and that even after the issues you still may not get the property.

Thanks to all who have contributed to this thread. Your info has been an education.

HAPPY NEW YEAR EVERY ONE!