Replies to This Discussion

Permalink Reply by Cami Pinsak on September 23, 2010 at 8:37am

I was just told that file could be escalated if no communication from negotiator in 10 days....

Permalink Reply by Dolly Ortiz on September 23, 2010 at 8:45am

Yes. But this is just getting it Set up in the system as a short sale...We're not even to the part yet of assigning to negotiator! And the floor managers never have a reason why it hasn't been done...

Cami Pinsak said:

I was just told that file could be escalated if no communication from negotiator in 10 days....

Permalink Reply by joe beauchamp on September 23, 2010 at 3:49pm

It's been a while since I did a VA - and the first negotiator was crazy. Fortunately, not being in equator, I got it reopened the next day by the rep who also said she was crazy.

I suspect but do not know if John Ciresi (a VP) works on non-equator problems. Give him a try. He has a little form to fill out and is very fast in getting some resolution.

As I recall, VA is funny all by itself, so I don't know what pull exists there. I also don't know if VA is stopping postponements like fannie and freddie are/have. It could be a very serious issue.

I don't believe it is unusual for them to take forever like this to get started - just one of the things which puts BofA at the bottom of the heap.

Given my lack of current knowledge for VA, in general, I would get my facts and concerns together and approach the VA, I would be calling BofA at least every day (I process all day so I am anyway), I would do as many things as possible to make it absolutely clear that any problems are their fault. When I call, I would make it "innocently" extremely clear that absolutely everything "that I know about" is in, has been in for X weeks/months and is there ANYTHING that I can do or provide to help here? Anything you need? Anything missing. (now a little deeper) any reason that this is so delayed? Did I miss something? Are you waiting for me to do something that **I** screwed up on? (this is all being recorded, of course, by them). Could you put in the notes that I asked if there is something I need to do - in case someone is waiting and somehow I missed it. So, you have them noting that you have repeatedly asked to help in any way and they repeatedly noted and said that, no, nothing you can do, it is all BofA, yep, all their fault - over and over and over. Now you have some legal groundwork and whoever looks at the notes knows it. At some point I would have a little "tantrum" about calling in every day for 2 weeks making sure that they have had everything for 2 1/2 months now and NOBODY has started this. What am I supposed to do? I can't come over there and do it myself. Do you have a staff? Is the game that you simply postpone things until the trustee sale? I hear that happens a lot - buyers and sellers ready and waiting for 2 months and instead of some result - oops, sheriff sale, too bad, what a surprise. Is that what it going on here? Is there no effort to NEGOTIATE IN GOOD FAITH on the part of BofA? Is this all a ruse of some sort? Oh, I know it isn't you (the rep), but this is so frustrating - I try so hard, give you great fresh stuff, a very good deal and now everything is old and the 1st person hasn't even opened the cover page to the file. And on and on. Then after, sorry, I'm tired and it is just getting to me - on the next call back to the, Hey, is there ANYTHING I can do?? What is that hold up?

Now you have a few other things in those note. They could be expecting another blowup - nope, you're cool so that catches them off-guard - gives you a righteous edge and might stir action just by itself.

Also, most reps try to be helpful and friendly - so far as their overlords allow. Buddy up, "how long do you normally see it take to get a negotiator?" Hmm. Interesting. Well, that trustee sale is becoming a huge concern and this was all in and ready so long ago. What can "we" do to get this moving. You have any suggestions?

Frequently, you'll find the rep sending a message to someone for you - he knows the best way and is now telling you what HE is going to do to get this thing moving. That is helpful.

So, those are some tactics in general and I cannot say specifically about BofA VA at this point. Hope that helps??

Also check on the redemption period. A person at an MI told me that you can continue the short sale during the redemption period. Some places/states/counties have them as long as a year. The bank won't sell the house during that time, it will just sit and fall apart.+

Permalink Reply by Wendy Rulnick on September 23, 2010 at 4:10pm

Bofa allows about 30-45 days to get new va's assigned. They have smaller pool of negotiators who are qualified to work them. You'll get there,

Permalink Reply by Dolly Ortiz on September 23, 2010 at 4:22pm

Great! Thank you so much for your help! I emailed. John c and he replied back within 30 min.,I'm going to phone in again in am and see if anything has changed. The reps keep making up excuses that financials need to be updated...."which is why its being held up" well...not sure what to think. ..but will continue to push forward. ..hopefully ill get someone who will put in some effort...thanks again guys for your input!

Permalink Reply by joe beauchamp on September 23, 2010 at 4:59pm

Since I've been in Equator, it is an infrequent issue there. Before there was equator (a year ago), I spent a lot of time doing exactly that - updating updating updating. Yes, absolutely normal. I usually only run into it now when MI gets involved - I know that is happening because suddenly after some counters, the negotiator asks for all the things to be up to date - no reason for a negotiator to want those - MI wants it fresh.

I remember VA being slow and when you hear from them after 3 wks, they give you a message demanding everything and if it isn't there in 48 hrs, they'll kill the deal. Real sweeties.

If you have issues with the seller, many get ticked at this, point out that this little bit of sending you bank statements and paystubs is for them to "get" $150K" or whatever they are shorting the Bank. If they walked into a bank and said "give me $150K", do they think that perhaps they could handle getting up to the minute docs every 10 minutes if the bank wanted? Well, that is what is going on - give me the freakin' docs.. ;-)

Dolly Ortiz said:

Great! Thank you so much for your help! I emailed. John c and he replied back within 30 min.,I'm going to phone in again in am and see if anything has changed. The reps keep making up excuses that financials need to be updated...."which is why its being held up" well...not sure what to think. ..but will continue to push forward. ..hopefully ill get someone who will put in some effort...thanks again guys for your input!

Permalink Reply by Dolly Ortiz on October 1, 2010 at 6:39am

Thank you so much guys! I have now been assigned to a negotiator and Va appraisal already ordered!