We have had a contract on our house since Jan. on a short sale. I have read through many other stories on here and see that I am not alone. Some stories sound like I could have written them myself. The contract on our house was for $200,000 and we were told the bank would only take $190,000 (great deal for buyers) sounds kind of stupid for a bank to say they will only take $10,000 less. So we proceed on. We have a great realtor who is on top of everything with this all paperwork in and approved many times. Were told since the beginning of this that we were approved for a HAFA short sale. Received many letters in the mail stating this and we were just told on July 7 that our HAFA was denied? that we did not qualify because our PMI company does not work with HAFA. Seriously?? we are 6 months in and no one noticed this earlier. So we are told to begin over with a regular short sale. SO we do that, update all paperwork and were told things should go fast when we are assigned a specialist because everything has already been approved.
We are now almost 6 moths in, 3 appraisals later, many HUD statements turned in, 4 closing dates and NOTHING!!! Not sure why the buyer is staying around? and on friday my realtor receives an email saying that things are now on hold again because the loan has been identified to be in a litigated matter. WHAT? we have no clue what this could be and our latest closing was scheduled for Aug. 15. I called BA and was told the same thing, but they could not release any information to me on what was going on. I would have to get an attorney and have my attorney contact them an they would tell my attorney what was going on and then my attorney could let me know. No clue!!
So that is where we stand. I'm waiting for my attorney to contact them, my attorney also has to send them an email saying that my realtor can receive this information and then we should know what in the world is going on.
I just cant believe that BA acts so gung ho in the press saying and that they are bending over backwards to help stop the foreclosures. REALLY? I have a letter saying that we qualified for more $ and specials if we close by 9/26 on our short sale. We were given all of these extra incentives. It will never happen because our house will be in foreclosure before BA does something. There hasn't been a date set yet. BA has no interest in helping me through this short sale. I do believe after this next closing date falls through the buyers will walk. Then what??start over?
Please someone help me!!! any answers??
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I don't think your agent is as on top of this as you think. They may be trying their best, but the fact that they set closing dates without approvals is troubling.
Depending on what state you are in DTS (Dignified Transition Solutions) works with BOA to process short sales and offers homeowners up to $2500 as a relocation incentive. http://www.dignifiedtransitionsolutions.com / Phone: 855-594-6170
Your listing agent should be able to call BOA and see if your loan qualifies for a "Co-op Short Sale". In my experience DTS has been very easy to work with, very communicative, easy to get a hold of, and provide an overall better experience.
--Melody Najera in California
DRE# 01890806
Sounds like quite the mess!!! Have your agent contact BofA through:
***Need Help? Try this:
TWITTER HELP http://twitter.com/#!/bofa_help or email escalation.tool.support@bankofamerica.com
http://social.bankofamerica.com/
For TWITTER Do not place LN# or borrower name in the message. Just a brief: 'Need help with a HAFA short sale" will suffice. Make sure to mention short sale. Also, each file should to be a separate tweet. If you have issues with 4 files then send 4 tweets. They will respond very quickly.
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These guys will get to the bottom of what's going on with your file.