Seller has been attempting a short sale with BOA (USDA loan) for over a year. We got past the BOA income/expense hurdle. Then seller filled out the USDA income/expenses form (attached) and did not include some expenses (mother has recently been paying a few bills until she is done with short sale). I was in a rush and immediately uploaded it, after verifying all was filled out. I did not do the math like I should have before uploading. We were declined the short sale because a $20.00 surplus in income. I begged and pleaded and yelled and... with BOA to re-evaluate. I finally got it escalated to management, despite the negotiators refusal. I was told that the only way to move forward with short sale was that if something changed in the borrowers income, we could re-initiate.
My Question: If we were to go ahead and re-initiate now and correctly fill out all income/expense forms and mom NOT pay any of borrowers bills, would BOA take a fresh look at it? Or would they not accept because of previous decline and no change in income? Or do you see any other way around this? My poor seller is just ready to get out of home.
Any help would be GREATLY appreciated!
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Ok, hopefully with the change in circumstance shown now they will be able to move forward. If you run into any additional resistance please do not hesitate to reach out to me.
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