I currently have an offer in on a short sale...it has been 3+ weeks since my offer without a response from the bank...I was told 8 days ago I would get a response with 48 hours...I still haven't heard anything to date...Does anybody know why it takes so long to Accept, Reject or Counter on short sales?

The other with Bank of America has had the HUD-1 rejected twice requesting the "purchaser's name".

If someone can't provide you a completed application, that should be enough grounds for rejection...

It is not a real deal until closing.If you are considering this PA, I would ask for a NON-REFUNDABLE $5000 deposit, regardless of financing being rejected on closing day or any other scenario. 

So, if you bid $40K, it may get rejected, or it may get countered with another number.

I am working with a realtor who has not worked with a wholesale investor before and I want to make sure I am doing the right thing when assigning a contract.Are my offers likely to be rejected because I put in an amendment to Section 26?

Send a proper adverse action / rejection letter to comply with FCRA.  

I've seen most companies reject a policy in that situation.  

Do not just "give someone a second chance", but do not automatically reject unless all those Bad Habits are recent and ongoing.

If those offers are rejected, I try my best to come up with a win-win situation for both parties, but if that doesn't work out then it's time to move on.