B of A PFS FHA
How long should I expect to wait to hear something/anything once the negotiator has been assigned to the file?
I'm representing the seller on an FHA Preforeclosure short sale with b of a. With this type of short sale you must FAX all the paperwork, no using Equator, and the property has to be appraised prior to entering it into the MLS and getting an offer on it. This has been going on since May. We've finally been assigned a negotiator as of Monday, August 20th, 2012. I've called her almost daily, left messages, and have not had any response.
On Tuesday, August 28th, I called B of A Short Sale Dept., and they tried to reach the negotiator, then her supervisor, but to no avail. They submitted a written request and told me I would have an email or call from either of them within 48 hours. It's now end of business three days later, and I haven't heard from anyone.
Am I being out of line to expect to hear something??? Any recommendations?
Replies to This Discussion
-
Permalink Reply by Bryant Tutas on
-
I allow 6-8 months for a BofA FHA. They are the worse.
Do you have the approval to participate yet? If not then you are dead in the water until you do. The negotiator they just assigned could just be phase 1. Document collection. Until you make it to stage 2 yo have a ways to go. Satge 2 is when they will order the appraisal and issue the ATP. Once this is received you are able to submit or resubmit the offer. My experience is it takes 4 months to reach this stage. Once you do things will go quicker.
here's bofas recent webinar on FHA https://agentresources.bankofamerica.com/ss_news_12JULY25
***Need Help? Try TWITTER HELP:
LOG INTO YOUR TWITTER ACCOUNT and TYPE: @BofA_Help Call YOUR NAME RE: PROPERTY ADDRESS, YOUR TEL NUMBER
or go to [email protected]
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.
-
Permalink Reply by Kevin - Greenville, SC on
-
'and the property has to be appraised prior to entering it into the MLS and getting an offer on it.' - This is not a requirement of the FHA PFS Program. The only time it must be listed is within 7 days of the issuance of an ATP.
To answer your question, a negotiator is not assigned until you submit a Contract and this usually takes about a week or two if you already have an ATP in place.
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons