expidiate short sale with Qualified Written Request?

[whorl1quote]

I have a balloon loan that was due Sep 30 (already passed). I had submitted a complete short sale package (including a purchase contract from a buyer) to Provident Funding (the lender) since early July, but they haven't approved the sale until now.

I was told that now my loan is in delinquent (because the entire loan amount was supposed to be paid back by Sep 30) and I am worried this may be hurting my credit, even through it's the lender who's doing the delay.

Any suggestions as I really think it's the lender's fault to not approve the short sale until the loan due date. will sending help my case "Qualified Written Request" help my case? If not, what else can I do?

BTW, my real estate agent's negotiator has been calling them every week to get updates.

[whorl1quote]

anyone has any insight?

[whorl1quote]

Bedards, any opinion??

[scottp999]

IMHO:

1) A submitted and unapproved short sale package does not in any way relieve you from contractual obligations under the note.
2) The calling once a week for updates, bothers the heck out of me.

What have the updates been? What is the current update? Has the package gone to the investor and/or MI company for review? Has the lender ordered an appraisal yet?

I would be calling them every day, or multiple times per day until the process moved to the next step, whatever that may be (it's not clear from your posting what steps have been done so far).

Consider telling your realtor you want better updates or you will start calling the lender yourself immediatley. You are on the hook here, not the realtor or the negotiator.