Hello everyone... FHA & BOA is a really bad combination.  I have been fighting with BOA for four years.. and it never gets any better... I have a new one (for me).  

Sellers are divorced and property is court ordered to be sold.  Neither seller can afford the mortgage payments as an individual or for that matter qualify for a mortgage as a single person.  BOA has approved a "trial" loan mod which sellers declined in writing. BOA says that sellers do not qualify for a short sale because their credit score is too high and they will not move the file into loss mit to be reviewed for a short sale. Financial analysis and finance docs confirm no money available and that sellers are over their heads financially. (I did not do the debt to income ratio)

I have escalated with HUD.  Novad is not as sharp as Duval.. at least the person that is assigned to this file. Any suggestions?

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They declined the modification trail plan? I think that is were they may of went wrong as you can only opt of the trail plan if approved if you have below a certain credit score which I believe is 580, but I'd double check. If they accepted the trail plan and then got declined for the mod due to missing payment they may of been placed into a short sale. Sounds like you are doing the right thing by escalating, but they likely will need to go through the mod review again.

Let me know if you have any questions or need anything at all.

310-564-6389

www.ishortsalenow.com

[email protected]

As soon as the borrower defaults on the loan mod BofA will do the short sale.

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