Without a line
I've had a short sale offer into BofA since Apr '09 on the condo where I am the tenant. My mortgage broker has given up, changed careers and will not return my calls or emails. She was supposed to provide me with the login info and pw so I could monitor the status. I have contacted BofA and of course they won't discuss my account without me being authorized on the account even though I'm the buyer and ready, willing and able to give them money. They said to get an authorization letter from the owner to access the account. The owner has also disappeared which doesn't surprise me...they had 6 foreclosures in my complex. Any suggestions about where I can go from here?
Replies to This Discussion
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Permalink Reply by Steele V. Propp on
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Wasn't there a listing agent involved in this? They would have authorization information.
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Permalink Reply by Scott Newman on
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The mortgage broker somehow listed it with MLS.
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One would have to be a member to do so. If he wasn't a licensed real estate agent he would have had to use an agent he knows. Can you get a copy of the MLS sheet from when it was listed? It would have whoever was the listing agent but maybe more important, it would have to brokerage name.
A short sale is usually required to be listed with a real estate firm. And that firm had better be able to give you answers.
If nothing else you might contact a local real estate agent and ask him/her to pull up the old MLS sheet and give you a copy.
This is starting to feel a little fishy.
Scott Newman said:The mortgage broker somehow listed it with MLS. -
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That's a good idea. There's a Realtor in my office I'll check with. That's my feeling too..."fishy". I don't know what benefit it would be to keep me from accessing the account unless they've sneaked an offer in that's a little better than mine and they don't want me to see the activity on the account.
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The owner has to take part in the process so you must find the owner. I suggest paying him to cooperate, if that's legal of course. Have him get a new listing agent (someone you know and has experience in short sales) if the current contract with the current agent is expired (find a loophole if it hasn't expired). Get the owner to sign an authorization form for you (download one from BofA website) or call BofA customer service at 866 770 7961 and get them to send you a form. It takes about two weeks for them to register the form into their system. Then they'll talk to you. Keep in contact with the owner because he has to personally call into BofA (but be on a speaker phone with him). You may have to write a hardship letter for him (as he dictates it of course) and help him gather his required bank statements and tax returns. What excitement is ahead for you.
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