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Old 05-11-2012, 12:18 PM
12 posts, read 19,307 times
Reputation: 12


Hi all,

I am trying to feel out these two grants/forgivable loans. I was told it can take a while for approval once we get a ratified contract but they both state we can use to for short sale. But the thing with short sales are that once you get a ratified contract the bank only gives you 30 days(maybe 45 days) to close. So does these programs work for short sales also.

I put a bid on a short sale and am trying for these two grants. I would like to know if anybody has any experience with them or if they worked with them on a short sale. I am reading alot and trying to make sure I get everything ready for the time. MyHome said it can be process in 21 days from application. But before application we need an inspection and who knows what else. So it seem like a slim chance with shortsales and these programs.

Oh one of the bank told us FHLB cannot work with conventional loan but from what a read online it is suppose too.

If you have any advice or experience let me know plz
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