Need Help: Lack of Correspondence from Negotiator and False BPO - Short Sale Superstars2024-03-28T14:29:30Zhttp://shortsalesuperstars.com/forum/topics/need-help-lack-of-correspondence-from-negotiator-and-false-bpo?groupUrl=bankofamericashortsales&commentId=3468065%3AComment%3A367845&xg_source=activity&groupId=3468065%3AGroup%3A207&feed=yes&xn_auth=noIn my experience, the BPO doe…tag:shortsalesuperstars.com,2015-09-17:3468065:Comment:3678452015-09-17T00:33:24.280ZElizabethWeintraub00697006LyonREhttp://shortsalesuperstars.com/profile/ElizabethWeintraub
<p><span>In my experience, the BPO does not necessarily rule the transaction, especially with a GSE, and the value the negotiator gives you might have no bearing on the BPO. I have called the BPO agents and asked if the value they submitted was the value the bank determined and the answers have been no. It is particularly troublesome on damaged homes because most real estate agents who submit BPOs on damaged properties have absolutely no training nor understanding of how to properly assess a…</span></p>
<p><span>In my experience, the BPO does not necessarily rule the transaction, especially with a GSE, and the value the negotiator gives you might have no bearing on the BPO. I have called the BPO agents and asked if the value they submitted was the value the bank determined and the answers have been no. It is particularly troublesome on damaged homes because most real estate agents who submit BPOs on damaged properties have absolutely no training nor understanding of how to properly assess a damaged property. They could not provide an estimate of repairs to save their lives.</span></p>
<div>You might try obtaining a few estimates and submitting them yourself. I write those situations into the contracts and make the buyer obtain a minimum of two estimates from licensed contractors, as the buyer has the most to gain.</div>
<div>It appears to me that Bank of America has backed off the short-sale market and it wouldn't surprise me if they assign the servicing elsewhere just prior to issuing approval, which will force you to start over.</div> Excellent Brenda! A true Supe…tag:shortsalesuperstars.com,2015-09-16:3468065:Comment:3680442015-09-16T22:33:02.658Zjohnna lodgehttp://shortsalesuperstars.com/profile/johnnalodge
<p>Excellent Brenda! A true Super Star!!!</p>
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<p>Complaint submitted.</p>
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<p>Thank you.</p>
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<p>Johnna</p>
<p>Excellent Brenda! A true Super Star!!!</p>
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<p>Complaint submitted.</p>
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<p>Thank you.</p>
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<p>Johnna</p> CFPB Complaint
Hi Johnna,
You…tag:shortsalesuperstars.com,2015-09-16:3468065:Comment:3680412015-09-16T14:54:04.955ZBrenda Houghtonhttp://shortsalesuperstars.com/profile/BrendaHoughton
<p><a href="http://www.consumerfinance.gov/complaint/#mortgage" target="_blank">CFPB Complaint</a></p>
<p>Hi Johnna,</p>
<p>You certainly have a CFPB worthy servicing complaint. BOA is seriously harming your client by not allowing them fair access to foreclosure avoidance. BOA is putting your client at high risk of foreclosure by denying them a fair valuation of their home, by refusing to communicate with you, and by not allowing you to provide required documentation. Click on the CFPB link in…</p>
<p><a href="http://www.consumerfinance.gov/complaint/#mortgage" target="_blank">CFPB Complaint</a></p>
<p>Hi Johnna,</p>
<p>You certainly have a CFPB worthy servicing complaint. BOA is seriously harming your client by not allowing them fair access to foreclosure avoidance. BOA is putting your client at high risk of foreclosure by denying them a fair valuation of their home, by refusing to communicate with you, and by not allowing you to provide required documentation. Click on the CFPB link in this message and make sure you let CFPB know in great detail how much harm is being done to your client by BOA. I guarantee you will be contacted in less than 24 hours by a negotiator from the Office of the President who will personally handle your transaction through completion. Be sure to watch for the BOA response to your complaint (you will be notified by email from the CFPB when they respond). Unless you have a short sale approval, counter their response, because - mark my words - it will not accurately reflect your experience. This will insure continuing attention from your negotiator until you have an approval.</p>
<p>I have used this CFPB resource a number of times with different lenders and it has gotten the problem solved every time.</p>
<p>Feel free to call me if you have any questions. I also can handle the negotiations for you if you're sick of dealing with BOA!</p>
<p>Brenda Houghton, Realtor</p>
<p>Keller Williams, Southlake</p>
<p>817-944-9429</p>