Denial Letter 9 days before closing - Short Sale Superstars2024-03-28T23:49:15Zhttp://shortsalesuperstars.com/forum/topics/denial-letter-9-days-before-closing?feed=yes&xn_auth=noI agree with you. Something h…tag:shortsalesuperstars.com,2014-03-21:3468065:Comment:3466622014-03-21T20:09:25.462Zcat gellatlyhttp://shortsalesuperstars.com/profile/catgellatly
<p>I agree with you. Something has changed with Short Sale lenders. I had an approval with Nationstar then two days later I was told that they need a $9,000 contribution. This was after court mediation, 2 appraisals paid by the buyers. The negotiator said she forgot to get the investor to approve it. REALLY?</p>
<p>Then I have another short sale with WellsFargo that came back and said they wanted a $6900 contribution and the sellers to sign a Promissory Note for the full deficient balance. I…</p>
<p>I agree with you. Something has changed with Short Sale lenders. I had an approval with Nationstar then two days later I was told that they need a $9,000 contribution. This was after court mediation, 2 appraisals paid by the buyers. The negotiator said she forgot to get the investor to approve it. REALLY?</p>
<p>Then I have another short sale with WellsFargo that came back and said they wanted a $6900 contribution and the sellers to sign a Promissory Note for the full deficient balance. I sent them a long e-mail asking them if they actually reviewed this file, this is a court ordered sale and neither one of these people have any money! Where have they been for the last year? Finally somebody looked at the file again and they came back and said they would take just the cash contribution and to counter what the Sellers can afford. I feel like we have gone back in time 3 years where things are getting lost and one hand does not know what the other is doing. VERY FRUSTRATED. </p>
<p>All this is happening after the files go for final management approval.</p> send a "direct message" to @B…tag:shortsalesuperstars.com,2013-03-02:3468065:Comment:2996032013-03-02T04:29:24.232Zjoe beauchamphttp://shortsalesuperstars.com/profile/joebeauchamp
<p>send a "direct message" to @BOFA_HELP with your phone number and property address. They will call you in a few hours. Response is better than calling the office of the president, but if you don't want to mess with twitter, the office of the prez is a good alternative.</p>
<p>send a "direct message" to @BOFA_HELP with your phone number and property address. They will call you in a few hours. Response is better than calling the office of the president, but if you don't want to mess with twitter, the office of the prez is a good alternative.</p> what is the twitter team addr…tag:shortsalesuperstars.com,2013-03-01:3468065:Comment:2993372013-03-01T23:30:02.908ZMichael Schneider, ABR, CDPE, SFhttp://shortsalesuperstars.com/profile/MichaelSchneiderABRCDPESF
<p>what is the twitter team address? how do we contact them? thanks, ,Mike</p>
<p>what is the twitter team address? how do we contact them? thanks, ,Mike</p> I think I saw a post somewher…tag:shortsalesuperstars.com,2013-02-25:3468065:Comment:2982592013-02-25T16:13:53.318ZMike Rizzohttp://shortsalesuperstars.com/profile/MikeRizzo
<p>I think I saw a post somewhere on this site that said that NAR was all over the Fannie Mae issue. I'll believe it when I see it. It seems they get involved at the 11th hour rather than being proactive and protecting us.</p>
<p>I think I saw a post somewhere on this site that said that NAR was all over the Fannie Mae issue. I'll believe it when I see it. It seems they get involved at the 11th hour rather than being proactive and protecting us.</p> Sounds to familiar...!!! This…tag:shortsalesuperstars.com,2013-02-25:3468065:Comment:2980442013-02-25T15:47:18.321ZPhillip Allenhttp://shortsalesuperstars.com/profile/PhillipAllen
<p>Sounds to familiar...!!! This happening all over. Fannie Mae has even reversed on itself within days of rendering a FMV. Where is the outcry from our RE leadership..?!?</p>
<p>Sounds to familiar...!!! This happening all over. Fannie Mae has even reversed on itself within days of rendering a FMV. Where is the outcry from our RE leadership..?!?</p> Here's an update....I guess t…tag:shortsalesuperstars.com,2013-02-25:3468065:Comment:2983052013-02-25T14:58:06.328ZMike Rizzohttp://shortsalesuperstars.com/profile/MikeRizzo
<p>Here's an update....I guess they have a "reason". It turns out that the buyer has a suit against B of A for unfair and fraudulent business practices. I found this out over the weekend from the buyer's agent. So, it looks like they are blackballing the buyer. As the story goes, he was involved in another deal where he had spent money on inspections and even had to turn on the utilities in a B of A short sale. B of A denied the short sale just a few days before closing after having…</p>
<p>Here's an update....I guess they have a "reason". It turns out that the buyer has a suit against B of A for unfair and fraudulent business practices. I found this out over the weekend from the buyer's agent. So, it looks like they are blackballing the buyer. As the story goes, he was involved in another deal where he had spent money on inspections and even had to turn on the utilities in a B of A short sale. B of A denied the short sale just a few days before closing after having already approving the short sale, approval letter and all. (sound familiar) He got mad and filed a suit for $1 against them for the point of it. (some people have too much time on their hands). He has decided to back out of this deal so it does no good to escalate any further. On the positive side, I got another buyer last night willing to pay what FM is asking. Unfortunately, we'll need to go thru B of A's "expedite" process. The last time I went thru this, it only took 4 months. They are just so darn speedy when they set their minds to it. </p> I have had nothing but troubl…tag:shortsalesuperstars.com,2013-02-25:3468065:Comment:2982972013-02-25T03:25:44.775ZKaren Deanhttp://shortsalesuperstars.com/profile/KarenDean
<p>I have had nothing but trouble with Bank of America FHA short sale. My suggestion is to call the Office of the Vice President and ask to speak to a Customer Advocate. You will be assigned a Customer Advocate who will escalate the issue, you may even get a new Negotiator or Closer assigned right away. I had to use my Customer Advocate for the approval process and for the closing process, but finally got it done. Don't take no for an answer and don't give up! I also contacted my Congressman…</p>
<p>I have had nothing but trouble with Bank of America FHA short sale. My suggestion is to call the Office of the Vice President and ask to speak to a Customer Advocate. You will be assigned a Customer Advocate who will escalate the issue, you may even get a new Negotiator or Closer assigned right away. I had to use my Customer Advocate for the approval process and for the closing process, but finally got it done. Don't take no for an answer and don't give up! I also contacted my Congressman and notified the Office of the Vice President that I did so and the Congressman's office contacted BofA. </p>
<p>It is absolutely absurd the amount of bailout they have received and payment they receive to help these homeowners, only to fail these hard working Realtors, buyer's and homeowners and everyone in between! There systems are flawed and someone needs to go in and make some serious changes!</p>
<p>Wishing you the best! Call them everyday and don't settle until you win. </p> Sounds like they might have s…tag:shortsalesuperstars.com,2013-02-25:3468065:Comment:2982902013-02-25T02:32:53.924ZJudi Fiollehttp://shortsalesuperstars.com/profile/JudiFiolle
<p>Sounds like they might have sold it. I agree that you should use the twitter team on this one. With approval letter in hand, it does not sound to me that they would deny it after the fact unless loan was sold to another servicer. I would be yelling from the rooftops on this one! </p>
<p>The way things are going right now with Fannie though right now, I would not put anything past them at all! You can dispute on homepath.com for Fannie Mae too.....</p>
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<p>Sounds like they might have sold it. I agree that you should use the twitter team on this one. With approval letter in hand, it does not sound to me that they would deny it after the fact unless loan was sold to another servicer. I would be yelling from the rooftops on this one! </p>
<p>The way things are going right now with Fannie though right now, I would not put anything past them at all! You can dispute on homepath.com for Fannie Mae too.....</p>
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<p></p> This one is easy....GET TO A…tag:shortsalesuperstars.com,2013-02-24:3468065:Comment:2982782013-02-24T22:23:36.104ZBen Benitahttp://shortsalesuperstars.com/profile/BenBenita
<p>This one is easy....GET TO A DECISION MAKER!!!</p>
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<p>A LOT of these banks WILL pay attention if you threaten to contact local media, contact the OTS or OCC.....just need to know who to complain to and this will get straightened out.</p>
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<p>Sounds like you are just getting the run around - DO NOT PUT UP WITH.....KEEP FIGHTING FOR YOUR CLIENT AND YOUR PAY CHECK!!!!</p>
<p> </p>
<p>This one is easy....GET TO A DECISION MAKER!!!</p>
<p></p>
<p>A LOT of these banks WILL pay attention if you threaten to contact local media, contact the OTS or OCC.....just need to know who to complain to and this will get straightened out.</p>
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<p>Sounds like you are just getting the run around - DO NOT PUT UP WITH.....KEEP FIGHTING FOR YOUR CLIENT AND YOUR PAY CHECK!!!!</p>
<p> </p> Here is an escalation name an…tag:shortsalesuperstars.com,2013-02-24:3468065:Comment:2980192013-02-24T21:12:31.057ZKaren Curtishttp://shortsalesuperstars.com/profile/KarenCurtis
<p>Here is an escalation name and number for you. I have something similar happen, it was not a Fannie Mae however. Elizabeth is in the escalation dept and could find out what happend. Give her your loan number, name and property. I would put HELP and loan number at the subject line, this gets their attention. Let me know if she helps, I have other names.</p>
<p>elizabeth.fair@banofamerica.com</p>
<p>805-572-3138</p>
<p>If she doesn't answer your email, call her, she answers her…</p>
<p>Here is an escalation name and number for you. I have something similar happen, it was not a Fannie Mae however. Elizabeth is in the escalation dept and could find out what happend. Give her your loan number, name and property. I would put HELP and loan number at the subject line, this gets their attention. Let me know if she helps, I have other names.</p>
<p>elizabeth.fair@banofamerica.com</p>
<p>805-572-3138</p>
<p>If she doesn't answer your email, call her, she answers her phone.</p>
<p>Karen Curtis</p>
<p>Prudential Real Estate</p>
<p>Park City, Utah</p>
<p>435-729-9192</p>