Replies to This Discussion

Permalink Reply by Michael Hayley on June 4, 2013 at 4:29am

You are experiencing the dreaded "litigation code". 1. Have the owner's attorney sign a "waiver of cease and desist". Sometimes that works. 2. In one case, we had to go to court with a motion to compel asking the court to make BOA talk with us so we can settle; we got it and it was successful. What a pain. 

Im very interested in seeing how others on this site have handled this. 

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on June 4, 2013 at 4:31am

The only time this has happened to me with any bank was when the borrower had filed Bankruptcy without my knowledge.  They continued to deny filing BK until I looked it up on the court system and sent it to them - then they got honest with me!

I hope this is not a new "tactic" by the banks.  It seems to me banks are finding ways not to do short sales anymore.  Glad our market is really picking up and short sales are dwindling very quickly!

 

Best of luck,

Permalink Reply by Michael Hayley on June 4, 2013 at 4:37am

I think its only BOA. 

Permalink Reply by Christina Waymreen on June 4, 2013 at 4:36am

I have gone through this. Get the seller to sign an authorization letter for you. FAX it to the lawyers. Call them again. I had this before and I kept calling and emailing the lawyers until they agreed. The cannot hinder a short sale but they sure can make up stuff just to get you off their back. I had a lawyer get so fed up of me he got the bank to okay me handling the short sale. Get the seller to write a letter demanding them to get this short sale initiated. This is not what they want, but the seller might be able to force their hand. I went through two or three foreclosure lawyers and got them all closed in the end. They are just playing the game, stalling until the foreclosure goes through.

Permalink Reply by cat gellatly on June 4, 2013 at 2:09pm

Thank you to everyone who responded.  I appreciate all the advice. So far I called the foreclosure attorney's office, send over an authorization and waiting for a response. I will be relentless until I get an answer. And....it's not only BOA it's also Wells Fargo it happened on another file today. Something has changed with these banks...so much for helping homeowners. I think we are on the last leg of short sales, which is also proven by the BILL that has been put before the governor to sign relative to foreclosures.

Permalink Reply by Pattilynn Guilford on June 5, 2013 at 2:43am

What bill? What state? tx

Permalink Reply by cat gellatly on June 5, 2013 at 2:48am

Florida

Permalink Reply by Pattilynn Guilford on June 5, 2013 at 2:50am

good .. do you have a bill reference # I could look up? tx cat

Permalink Reply by cat gellatly on June 5, 2013 at 2:58am

Governor Scott Signs Foreclosure Bill Into Law Appropriating Millions of Dollars from National Mortgage Settlement to Speed Up Foreclosures

SB 1852

If you google this you should come up with the site.

Permalink Reply by Pattilynn Guilford on June 5, 2013 at 3:17am

not good .. no wonder a judge in Brevard Co FL stated he was ordered to foreclose on 1000 homes a week - ridiculous when there are agents willing to help the situation if only the banks would approve in 30 days.

Permalink Reply by Christina Waymreen on June 5, 2013 at 3:22am

They are willing to foreclose within a few days, but not do short sales which garner them more money. The banks see short sales as a "reward" and foreclosures as "punishment". They are not in the business of rewarding. Also, it was mostly the HOA that have been pushing for this as they want their money immediately and will be the first to put a lien and start foreclosure proceedings. This is being done in Texas. Florida is following the "herd" and the governor is assuming this will take him to re-election.

Permalink Reply by Pattilynn Guilford on June 5, 2013 at 3:25am

SS don't garner more money in a stable upswing market. The banks buy them back for $100 and then either sell or rent.