Replies to This Discussion

Permalink Reply by Ryan Diedrich on October 27, 2009 at 4:28am

what is the REO Trans and how do we get to it (link??)

Permalink Reply by Ryan Diedrich on October 27, 2009 at 4:29am

i take backup offers but dont tell BOA the buyers walked. this way when i get another offer i just send it to them and they most of the time continue the process from where they are at instead of completly over again.

Joyce Polega said:

Hello
I am new to short sales, I have a BofA short sale and just got assigned to an analysis. Is that the same as a negotiator. The buyers are probably going to walk. Do you continue taking offers for back up after you submit an offer? Any assistance is greatly appreciated.

Permalink Reply by Lynn Pineda on October 29, 2009 at 1:40pm

I have a miracle Short sale that I've had since April....miracle in that the Buyer is still hanging on! Have been through several addendums to extend closing date. I've since, for some time now, changed my handling of closing date extension by noting: 30 days upon Sellers Lenders written approval.

Permalink Reply by Karen Mathers on November 2, 2009 at 10:53am

I have a short sales with Bank of America for 5 weeks now. I have been calling in 1-2 times a week and I have been told the paperwork is in . . . just waiting for a negotiator to be assigned . . . Negotiator has been assigned, but give her a couple of days before you call.

I think I am progressing well . . . and then I called the negotiator. I should have known better when she answered the phone right away and was friendly and cheerful. She was surprised to get a call from me, as she has not worked in the short sale department for over a year! So I call the short sale department back and I got a very nice gentleman that took the time to look it up and he said my file was not even active! He said the people I have been talking to do not know what they are doing or worse . . . they are just telling me something to get me off the phone. He made my file active and looked up another file and it turned out it was not active either! Basically he said I am starting from the beginning with both of my files.

I have done several short sales but Bank of America is a real challenge. What specifically do I need to do when I call in? What questions do I ask, and how do I know the person I am talking to is correct or is telling me the truth. How will I know which phase I am in? Do they tell me? Do I call the short sale department, customer service, and/or my negotiator? Should I also be calling the Home Retention Department which is also the foreclosure department? Help!

Permalink Reply by Jennifer Klein on January 24, 2011 at 6:08am

I agree! Mine are all going down the tubes! Have you found anything to work? Please help!

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