When they made their offer to buy a Southwest Portland home last March, Catriona McCracken and Paul Thiers had every reason to think the deal would rapidly close.

The seller was delinquent on the mortgage and was motivated to sell. They had agreed upon a price.

But Earline Penson, McCracken’s real estate agent, responded with prophetic words: “Until the bank responds, we are in limbo,” the veteran Hasson Realty agent warned. “That’s why I don’t like short sales. We are at their mercy.”

Indeed. Ten months have gone by and the two giant banks involved have shown no mercy.

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