BOA has file on HOLD--saying pending legal action when there is none?
I have a BOA that has been in process for seven months now. LRC held it up for months then once we got back to BOA (cash contribution required so not HAFA eligible) we were moving along. Negotiated with the MI company and came to terms with a cash amount at closing. The negotiator said she was sending it to the investor and would be in touch.
I checked Equator a few days later and it was a different negotiator. After getting no responses from him customer service told me that a code had been put on the file and that there was pending legal action initiated or threatened by the seller so until Sr. Management cleared it, no one could work on the file.
It has now been two weeks and we are getting completely stonewalled. Tried the Twitter team. They responded and said they would have the negotiator contact me. The negotiator contacted me to tell me that the hold was on the file so that didn't accomplish anything. We have no idea WHY a hold was put on the file and can find no one who will even discuss taking it off. An attorney is working on this as well and we are getting nowhere. NO ONE threatened legal action. We've looked it up in the court documents and nothing has been filed except for the normal foreclosure suit...and nothing recent.
Has anyone else seen this? Any suggestions?
Replies to This Discussion
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Permalink Reply by Thom Colby CA Brkr 888-391-5245 on
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This seems to be a new "trend". If the borrower or their attorney makes any reference to BK or any legal action - even as a passing remark, files are being placed on HOLD. Tell everyone to be extremely careful about what they say or write.
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Permalink Reply by Cecilia Mutia on
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I had that happen to me and it turned out that my client was in military status code on their system, therfore, could not do anyting until I resolved it with BofA attorney which allowed me to proceed with the short sale.
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Permalink Reply by joe beauchamp on
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Call the office of the prez. This is the sort of issue where they actually may be the best to address it. If I ever go to escalate and get, "I'll have the negotiator call", I know I need to be talking to someone else. Duh, why do you think I'm talking to escalations?? Surprise! The negotiator did nothing useful.
Sometimes, the seller can get movement rather than you, but that is dicey - you never know what they will say like, "Oh, yeah, well then I'll just sue you" or who knows what. You might try a POA. Sometimes that gets respect as if you are the seller. Give hints, at least, that this person needs a POA to protect him and you will get some cooperation. Since you know what is going on, and with POA, you can assure them that there is no BK, etc. much more than a mere agent could do, ya know? Good luck..
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Permalink Reply by Stephanie Lim on
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Strange turn of events...contacted social media team last Friday. Nothing happening on the file in the meantime. Noone at BOA would give the seller, me or the attorney any info. Kept saying the attorney had to talk to legal.
Social media calls me back yesterday telling me that they attorney has to authorize me speaking to BOA on the file. He had a much different tone than when I spoke to him last week and was borderline rude when I was asking questions to try to understand this request. He said that was the "latest information on the file" and that I had to do it for the file to move forward.
I've been authorized and speaking to them for seven months. Fine. The attorney types up a letter authorizing me talking to BOA on the file. The seller adds a handwritten note on the bottom re-authorizing both me and the attorney speaking with them which I uploaded into Equator and send to the negotiator in escalations where the file was sent a couple of weeks ago out of the blue when we were supposedly waiting on a response from the investor.
Today customer service says there is a note that has been added to the file that they can not talk to us and they will not give any information whatsoever, but thanks me for working with BOA to help prevent foreclosures.
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Stephanie - This is not "normal".... I had a file last year that was similar to yours. Come to find out, the SELLER / BORROWER filed a lawsuit against BofA and didn't tell anyone. I asked over and over again but - nope the "seller knew nothing" A deep Title search found a Lis Pendens filed by the Seller. It was a frivilous lawsuit filed simply to remain in the property longer. That was over a year ago. They are still in the house and have not made a payment since 2006. This is a $1 Million+ home.
If you want to send me the address [email protected] I'll look on Title for you.
Best,
Thom Colby
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The attorney from the title company was told by legal there is no legal proceeding and they have nothing to do with the file...just as we knew.
The negotiator is saying today that he sent my new authorization from the attorney authorizing me on the file to "legal" for them to approved THEN the file will resume. We already have MI approval, with a cash contribution from the seller, now he is saying they have to order another appraisal once the authorization is approved (appraisal just over 3 months old). This guy has had the file now for three weeks when it was taken from a negotiator without warning...the other negotiator was making progress on the file.
His title is "Senior Operations Analyst, Legal Escalation Short Sales"
I have quite a few BOA short sales under my belt and the file was submitted completely, full package from the beginning (and multiple times since)...there is just no excuse for the mishandling of this file by BOA!
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