Tags:
The counter is from BOA most likely as the servicer; it still needs to go to the investor for final approval if BOA does not have full delegating authority over the note. This can usually take about 10 days to 2 weeks. So 4 weeks is too long. You have to go to the manager of the negotiator to get your acceptance letter.
Get on the phone and call BoA corporate in Charlotte, NC. I think if enough agents start calling the corporate office they will get the message.
I had an offer accepted and it took nearly 3 weeks to get the approval letter. Like Katerina said, sometimes they still need to check that the case meets all investor guidelines, and for the investor to sign off on it.
How often in the listing agent calling the bank for updates, there are deadlines for the negotiators to complete these taks and if they are past due the agent can escalate and send Emails out to the Team Lead thru Equator.
First of all, thank you so much for responding. Secondly, we contac the listing agent once a week for any updates. Last week he said that everything is moving along and the bank was just waiting on the sellers removing the LLC and putting the home back in their name since they have been renting it out. I know that the sellers did a quit claim deed on that on 3/31 so I was hoping that we would have gotten the approval by today since it has been a week but still nothing. Listing Agent still thinks that we will have approval and close before end of month. I just dont understand why if we accepted counter a month ago, why we still dont have approval.
Juan Reyes said:I had an offer accepted and it took nearly 3 weeks to get the approval letter. Like Katerina said, sometimes they still need to check that the case meets all investor guidelines, and for the investor to sign off on it.
How often in the listing agent calling the bank for updates, there are deadlines for the negotiators to complete these taks and if they are past due the agent can escalate and send Emails out to the Team Lead thru Equator.
Wow...this is very similar to our situation. We started at the begining of November but BOA lost the file and we had to resubmit everything to equator at the begining of Febuary.
We accepted BOA's "counter" on 3/29/10 and have not heard anything since. The listing agent has been calling and e-mailing the negotiator everyday with no response.
My wife is having a baby next month (we would really like to be settled) and we too will be loosing money by waiting like Brooke staying where we currently are. I called Equator support (866-880-1232) and they stated their "protocol" is to not expedite a case unless a task is 20 business days overdue by the negotiator. I wish there was someone we could talk to/write who could look beyond their protocols and look at us as customers and do something about our short sale so we could close. Anyone have any ideas?
Short sale specialist just emailed me and said that he hopes we will have an approval soon. He said he hopes that we close by June 30th! WHAT??? Why so long? Everything has been turned in. Why would the bank need that long to review everything again? Very discouraging.
© 2024 Created by Brett Goldsmith. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.