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HELP! Hitting so many roadblocks opening B of A FHA Short Sales.

Posted by Melinda Speth on May 24, 2012 at 6:54am in Short Sale Discussions

I'm having a heck of a time with B of A's new process for their FHA Short Sales.  I have 3 right now, where they are having to deal with the Home Retention Department first.. to either be qualified for Loan Mod or Opted out, then AGAIN to do Financial Reviews.  All the while having to talk to their specific CRM, that is never in.  Is anyone else having difficulty having their files opened Active in FHA SS?  Anything I am missing?  B of A FHA used to be the best.

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Replies

  • Jo L. December 3, 2012 at 6:49am

    Any updates on these files you mentioned? I am having the same problem. Thanks!

    • Trong Dang > Jo L. December 3, 2012 at 9:13am

      For issues with my BoA FHA files, I escalate through direct supervisors and, the one that seems most effective is, going through BoA's twitter account, #BofA_Help. Hope that helps.

  • Evelyn Santiago May 31, 2012 at 1:47pm

    Well, looks like this is not an isolated case and we are all suffering with roadblocks.  Will be talking to a HUD representative tomorrow on a short sale with another servicer and am going to pick her brains on what we can do.  When I call the HUD national center on the BOA files they transfer me to their HUD representative in BOA.  The only problem with that is that they only work with loan modifications and not short sales.

     

    There has to be a way out of this mess with these FHA short sales.

  • Corinn May 31, 2012 at 8:25am

    Yes, I'm wondering too.  BofA Twitter Team hasn't been able to help with this mess either.  Maybe someone will chime in with some tips!  I have 2 right now that were declined out of loan mod, but still seem to be stuck in the twilight zone, not moving forward with the short sale.  AHHHHHHHHH

  • Evelyn Santiago May 24, 2012 at 11:56am

    I am in the same boat!  Have 3 submitted for almost a month.  They have told me that the hardship letter has to be signed and dated, that bank statements and paycheck stubs have to be continually submitted until approval.  Every time I talked to an agent its something new.  This is such a monumental waste of time - feels like we are back to the 2006 time period - faxes are sent and it can take 7 days before they show up?

    Now I was told that although my short sale package is complete that the home retention deparment has to review the file for a loan modification event hough the homeowner already tried and was denied so gave up and decided to do a shor WT?????  Why could they not have told me that when the pkg was submitted so I didn't waste a month waiting....

     

    What is going on with BOA and FHA files...anyone!!!

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