All Forum Posts by: Green Doggie

Has it always taken this long?

Won't banks that are in financial trouble want to speed up the process? 

I have 2 reasons why I think they take long:

1. Banks have plenty of excess reserve; therefore, they are not under pressure to close quickly. 

2. Secondary mortgage institutions, which owns the mortgage, are backed by the government, could care less. 

Do you think my analysis is correct?

Newbie question. 

I read a lot of people complaining that short sales take too long. 

Would attempting to short sale on properties that are about to foreclosure motivate lenders to move faster? I read that lenders rather get rid of properties than go to foreclosure.