Two Loans with Two Lenders: Short Sale Approval Received in 41 Days!
I have another short sale success story to report. I just closed a short sale that was fully approved by both short sale lenders, Select Portfolio Servicing (SPS) and Specialized Loan Servicing (SLS), within 41 days of submitting the short sale application. Working with two short sale lenders can be difficult, and I do think that this is the number one reason most short sales fail. Negotiating between two lenders can add a significant amount of time to the approval process. However, by staying in almost constant contact with both lenders I was able to negotiate this short sale in record time, with no seller contribution and the deficiency waived on both loans.
