BOA ss changed from COOP to Traditional without my knowledge

Has anyone got any advice for me.  I did a SS with BOA that was approved and included reloc $30k to seller as well as deficiency release.  The buyer walked.  Another CASH buyer was found almost immediately for the same amount but the 120 marketing period expired.  The SS was approved, but this approval did not include any reloc money and the deficiency is not released. What do I do now?  Seller cannot accept deficiency.  Any idea where to go within BOA to get deficiency relieved?  Loan Resolution Corp (LRC) has been third party servicer.  Boy, do I need help now.

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Permalink Reply by Bryant Tutas on March 15, 2013 at 3:41am

***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 ERIC MOBLEY on March 15, 2013 at 6:06am

Hey what I and probably many others would like to know is how did your sellers get a $30,000 relocation amount in the first place.  I have never heard of them actually giving that amount or even stating that they were going to give that amount.

Permalink Reply by Trong Dang on March 15, 2013 at 6:52am

I have a SS with Chase, and they offered the Seller $20K incentive via snail mail letter. We had it approved on the HUD and everything. Unfortunatley, the buyers walked right before closing. We are hoping to get it approved with the new buyer.

So it is possible to have it in writing and approved. With Chase they have several determining factors on how they decide how much to offer, like the location of the property, sale price, what type of loss they are looking at with it as an REO, et cetera. I am sure every bank has their own criteria.

I was floored when I heard the high amount for my client, as I didn't know they would offer so much. So I can understand why you asked.

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