Replies to This Discussion

Permalink Reply by Sameer Punjani on August 16, 2011 at 9:28am

It's probably a countywide loan, and BOFA has loss share agreements with the FDIC to cover 80-95% of their loss based on the original loan amount. VP's would be stupid to postpone a foreclosure.  Your out of luck.

Permalink Reply by joe beauchamp on August 16, 2011 at 11:15am

The office of the president is your best bet for getting someone's attention quickly. Equator is your worst.

It seems unlikely, but you might have luck by calling the attorney directly to get the foreclosure to slip to a later date.

Who is the investor? Can you call them and point out what money your sale would be saving them?

Also, BOA negotiators frequently are in left field making up their own games.  If something sounds crazy from a negotiator at BOA, it probably is crazy.  You need to get to someone else.

From time to time, the Team Lead is bright and wants to do the right thing.  That is a possibility - but it definitely is not always that way.

And I learned this from a friendly MI person - you can continue the short sale during the period that the homeowner can rescind the foreclosure - somewhat weird but might help.

 

I don't know what Sameer is referring to - I see no diff in recourse vs non-recourse in what he says.

Permalink Reply by Celeste ODea on August 16, 2011 at 12:31pm

Send me an email and I will give you a contact person that may be able to help you [email protected]