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Banks, mortgage companies are in the business of lending money and collecting interest. They are not in the real esate investment business or property collection business. They don't care if the property is in the best or worst neighborhood they want it off their books as quickly as possible for as much as they can get. The longer they hold it and have to pay taxes, attorney fees, processing, etc., etc. the more they lose.
Rest assured you are at the beginning if you are dealing with a new lender. New lender new credit manager. What you may not need to do is resubmit all your paper work but be prepared.
One way I have found to move a short sale is to bite the bullet and get the property appraised. No BPO's a real apprasial and submit that with your offer. It gives the bank a real value. I have found it takes the guess work out of the transaction. It can be risky. If the lender says no you are out the cost of the appraisal. But if you are getting a really good deal what's a grand for an appraisal.
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