Comment

Comment by Stacey White on November 15, 2012 at 5:54am

Hi Patrick, Thanks!!!!  This is an unusual circumstance; $28k owed to HOA, buyer is paying (don't see that too often), BUT our hurdle is the closing officer is stating once soft decline is done, it would be 20 days.  Can't wait that long due to sale (20th) and there is a jr lien, eff date good through 30th. Now we have a new buyer, willing to pay hoa also, that is willing to purchase for $1k more giving $1,000 extra towards BofA net proceeds.  The officer is going to management to ask but how he sounded this am, I don't see a bend in this situation.  Oh, did I mention it has taken me over 2yrs to get to this point!!

Comment by Patrick James on November 15, 2012 at 5:48am

You can always try twitter and tweet to @bofa_help and just say you need help with a short sale. Don't put any personal client info in tweet, they will follow you so you can send them a direct message with your phone number and they will call you

Comment by Patrick James on November 15, 2012 at 5:46am

Stacey - my experience is that once it gets to closing a soft decline is the way it has to happen if the buyer walks,  so the new buyer and info can be submitted in equator.  Lenders will almost always pay the HOA bill but not until the last minute - they won't give up their position to an HOA.....  I think you should have your clients attorney try to get in touch with the attorney for BOA in your state to get it paid off and give you more time.

Comment by Stacey White on November 15, 2012 at 5:39am

Hi Comment Wall, Does anyone have the number to the escalating dept with BofA?? or where I would go to request the escalation of a property that has been approved, effective date Nov 16th, Butttt, the existing buyer has backed out, new buyer on board and the closing officer states that the file would need to be soft declined because the file has been in the closing dept for more than 45 days!!  The issue here is there is a HOA foreclosure court house sale date on the 20th. We don't have time.  The attorneys for the HOA will not set aside as this would be their second time doing so!!  Thanks for any help ~~ Stacey.

Comment by Wendy Martin on November 14, 2012 at 11:55am

My FHA short sale Phase 2 negotiator didn't return calls or emails for 3 weeks.  I called the escalation team, his supervisor, the short sale dept, etc.  I asked the escalation guy for the FHA case #.  He pretended not to have it until I pressed him then he gave it to me.  Then I said if I don't have my negotiator or his mgr call me within 24 hours I'm going straight to FHA.  Guess what he called me an hour later. How many hours/days/weeks do I have to spend getting someone, anyone to do something?  The negotiator says "oh they fired everyone and took away overtime, I am working on 3 year old files right now."  Yeah, right.

Comment by joe beauchamp on November 14, 2012 at 11:48am

Not worth its own discussion - just really maddening when you deal with BofA and push them to finally get an ATP after ll months. Because they move so slowly, they need a new listing agreement and the homeowner takes 3 days to sign it so BofA kills the file after 11 1/2 months. This immature juvenile one-sided unwarranted action is very frustrating. Yes, BofA has gotten to me with this latest tactic to destroy short sales. Oh, and keeping a tradition, instead of doing a counter Thursday evening last week and giving 3 calendar days (meaning the next day - just 1 business day), I got a counter on Friday - given 3 calendar days - so that afternoon, Saturday, Sunday and holiday - 1/2 business day at most. Tell me again how BofA isn't doing these things to drive away agents and short sales.... Someone at BofA is up late at night thinking up these tactics..

Comment by Valerie Hernandez on November 13, 2012 at 9:19am

@Shel-lee, What do I tell the paralegal to get them to get the BK judge to order the bank to draw it up? My Seller does not have the money, she is going through a divorce already and doesn't get any help from the spouse.

Comment by Shel-lee Davis on November 13, 2012 at 9:13am

Aida is correct, as regards B of A.  In my case, my client was not represented by an attorney (after her original filing) and to have that attorney draw up the motion to sell was going to cost her money, which she did not have.  We got the BK Judge to order the BANK's attorney to draw up the motion to sell.  It can be done.  

Comment by Valerie Hernandez on November 13, 2012 at 9:13am

Ok, I should of given more details. It is BOA and I have hit all the roadblocks Aida mentioned. I am stuck in the process. So are you saying I just need to get a motion to sell from the judge? I am afraid that if we take it out of the BK, and then BOA doen't approve it, that the homeowner will wind up forclosing. we do not have a sale date yet.

Comment by Aida Rodriguez on November 13, 2012 at 9:06am

From my understanding, the process will not change dependent on the type of BK they file.  Again, until the BK is discharged/case is closed, Bank of America receives a motion to abandon, or Bank of America receives a motion to sell, you will not be able to  move the file forward. 

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