Make certain you read and re-read the approval letters when they come in to you. Are they removing the Lien AND the debt or just the lien? Is the date they have on the letter the latest date they will allow for closing or is it in fact the date they want the money into their hands? That last one could really cause a problem if you are not keeping a close eye on things. Check out some of these sample letters and get a feel for what might be coming your way.
It would be important to note at this point that most of the banks will not change the general text/wording of their letters. The response I hear often is 'The lawyers have reviewed and approved this wording and we are not allow to add to or take away from it'.
| Sample Short Sale Approval Letters | ||
BB& T Sample  | Bank of America Sample  | Countrywide Sample  |
HSBC Sample  | National City Bank Sample  | Saxon Mortgage Services Sample  |
