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Are Short Sales Getting Easier?

Posted on April 22, 2011 by The Tim

Over in this weekend’s open thread, Tim K. (a.k.a. “S-Crow,” owner of Legacy Escrow) notes:

Short Sales moving along in our office: B of A – under 4 week approval. Key Bank – under 4 week approval. (Not indicative of every situation, but waiting months on end seems to be the exception not the rule).

Anecdotally, I’ve seen similar action recently as well, with short sales being approved much faster and more frequently than was the norm even just six months ago.

I’m curious what everyone else is seeing out there in today’s market. Is it a growing trend that short sales are more successful, quicker, and easier this year, or just some sort of sampling bias?

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Short Sales: What happens when the seller’s lender doesn’t provide a forgiveness letter for the deficiency?
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