Wow, that was fun! And the longest Short sale I've ever had. It took a full year to close after losing three contracts due to the bank's failure to negotiate.
After all that time, it was interesting that the seller's payoff went UP by $10,000 in fees!! for a $225,000 SALE! This does not include late payments he made to the bank, just fees.
Is this a more common practice than I'm aware? Does the bank intentionally not communicate or delay processing the loan to increase their potential bottom line on the short sale?
Needless to say the seller was still very pleased to be done with it....YAY