Comment

Comment by Napua Lucas on July 30, 2011 at 4:53am

I usually list a short sale property and when I have an offer then I submit to the lender rather than starting the whole process with the lender (let's use BofA) because I really don't want the lender setting the listing price.  Every time I see an approved short sale listing, the price is too high and offers aren't coming in and the listing agents are complaining about the lender's pricing being unreasonable.  Am I correct on doing it this way, or am I missing something?   Your advice would be appreciated as I have a new short sale listing coming up and am wondering if I should change the way I have been doing short sales. The seller is current on his first and way delinquent on his second-both BoA.

 

Comment by Brenda Houghton on July 29, 2011 at 5:53am

Just got an approval letter on a BoA short sale with two mortgages totalling $700k.  Cash buyers are walking away with a beautiful 4500+ sq ft home (hardwoods, granite, stainless appliances etc) with a pool, < 10 years old, on over 5 wooded acres in the Dallas Fort Worth area for just a little over $425k. 

 

Knock on wood, still have to close!  My last BoA approval was on $450k of loans negotiated to $300k.  The buyer had a heart attack and decided not to proceed with the purchase.  As hard as it is to negotiate short sales, it seems even more difficult to wrestle buyers to the closing table, and the reasons are so unexpectedly bizzare.  On yet another BoA short sale, the buyer was chased off the property by a squatter with a gun.  I hope he sticks around to get to the closing table. 

Comment by Steele V. Propp on July 29, 2011 at 3:18am

Congrats on this one.  Well done.

 

Steele

Comment by Jennifer Luna SFR on July 29, 2011 at 3:13am

Closed on a Bank of America short sale. It was surprisingly smooth. I am grateful I had such a wonderful negoiator to work with. Can you believe he would call me direct before emailing me back regarding a question! Agents who have referrals for the Milwaukee and surrounding areas - send them my way!

 

Comment by Elvira Quiray on July 26, 2011 at 10:48am

I have one right now . It was submitted in February. Hafa approval took months. Got it in May. Now they can't even send an SSA letter. Kept saying that they were delayed in mailing out these letters. Try BofA Help tweet. They can help escalate and I do get results.

Comment by Sameer Punjani on July 26, 2011 at 10:45am

AMS Loan Servicing Sucks.  Here is the google result page when u type in "AMS Loan Servicing" check the results, both are from my blogs. 

 

http://www.google.com/search?rlz=1C1GPEA_enUS314US314&sourceid=...

Comment by Alec Javan on July 26, 2011 at 10:37am

 

Anybody doing any dealing with AMS? Any feedback you can give me. They are so overwhelmed with files, that looks like we are here for a long haul. They have had the file for over 9 weeks after BofA had it for 4 weeks. Anybody has a contact in B of A upper management to make them aware of the situation. It is against all Bank of America is doing to improve the process. Meanwhile qualified buyers are walking and the prices are falling. I love your input.

Comment by Wendy Rulnick on July 25, 2011 at 12:10pm

Rosemary - Where is the form to be sent?  I don't see it saying "Northern California" on it, so hopefully, we can use this nationally.

Comment by Kylee Roe on July 23, 2011 at 1:33pm

Rosemary, what type of escalation or need for that are you referring to? Do you mean just to get a communication from someone? Or have a specific task reviewed or what? Usually when dealing straight with Bank Of America on a SS, they have been fairly responsive.

Comment by Sameer Punjani on July 23, 2011 at 12:57pm

Rosemary

There wouldnt be a need to escalate if the original person did their job in the first place. What bofa fails to tell you is they have no incentives to short sale as they get paid the full principal balance on a foreclosure from fannie, freddie, or from the insurer. Why do u think they bought countrywide? They knew they would get paid full value on those. Dont let them fool you in thinking they are trying to help people. They are all a bunch of cheats and liars and got stuck with bad loans because wall street stopped buying them.

• ‹ Previous
• 1
• …
• 140
• 141
• 142
• 143
• 144
• …
• 353
• Next ›
• Page