Bank of America Short Sale...after the short sale

As we are all aware Bank of America has standardized language on their short sale approval letters that Bank of America agrees to accept a short payoff and that BAC Home Loan Servicing and/or its investors may pursue a deficiency judgment for the difference.

We have had a few clients close with Bank of America short sales as well as others where they receive a letter that the mortgage has been satisfied and no further obligations would be pursued.

Unfortunately, my clients loose these letters and I never get to see them. Does any one have one of these letters from one of their Bank of America short sale clients. I would like to see the exact language they have been using.

Thanks.

Views: 17

Replies to This Discussion

Permalink Reply by Wendy Rulnick on November 23, 2009 at 1:07pm
Craig - I have never had a report of such a letter, would be curious to see it, too.
Permalink Reply by Craig Baranowski on November 23, 2009 at 2:10pm
Wendy Rulnick said:
Craig - I have never had a report of such a letter, would be curious to see it, too.

I spoke with a senior negotiator at Bank of America late today. Apparently my years of working with Countrywide and Bank of America short sales has merged all of the wonderful memories together. Countrywide used to send these release and satisfaction of mortgage letters to their customers. Bank of America has since stopped this practice for Countrywide clients and no longer supplies the letter due to legal reasons.

So much for a good thing.

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