Comment

Comment by Cami Pinsak on August 9, 2012 at 8:25am

Can anyone tell me if it is difficult to get deficiencies on first liens waived in Las Vegas?  I am in CA, but am being told by the person negotiating the short sale that the B of A negotiator says no.  Why do a short sale then?

Comment by Julissa Jumper on August 8, 2012 at 3:47pm

Had a surprise on Monday. BA Co-Op sale with the most awesome negotiator. Seller receiving $5000 incentives. Property had a city assessment and second lien holder wanted more than BA's 6% so I explained to seller that he may receive less than the $5000 because those costs would have to be paid from the incentives. File went to closing and when seller got the HUD he refused to close because he didn't like the amount he was receiving from the sale. I was stumped!

Comment by joe beauchamp on August 4, 2012 at 3:47pm

That would be an investor guideline, not servicer decision - although some BofA people will try to extort outside of investor guidelines. The answer is generally yes, but it depends upon the investor, not BofA. I think some agents just assign the other side to someone in the office to avoid any hassle or argument.

Comment by Miriam Bernstein on August 4, 2012 at 10:30am

Question, is it true that B of A pays 4% total if one agent is involved in the sale.

Comment by Carol Pease on August 2, 2012 at 4:35pm

I have tweeted and retweeted. Over and over again.    So far no one has been able to get this done yet.  It's been 45 days.  I  need a person of authority in the FHA short sale department. 

Comment by Helena Kaucheck on August 2, 2012 at 4:29pm

Yes I wholeheartedly agree with Evelyn.  Twitter BofA!!  I had two that had been escalated and assigned a great rep in FHA because of Twitter.  I don't understand why this is necessary.  I can't imagine there's only two agents doing this so why BofA doesn't seem to be able to fix this issue is beyond me.  But Twitter helped IMMENSELY!!!  Got it to close and had a great rep assigned.  

Comment by Evelyn Santiago on August 2, 2012 at 3:47pm

The best thing to do is send a direct Message to BOA's Twitter Social MediaTeam  They have become the defacto escalation department especially for FHA Short Sales.  I have 3 with BOA since April 27 and in the last 3 weeks have finally been able to get them "initiated".  It's been a very painful and frustrating process.  Without the Twitter team I would not have gottent as far as I currently have. 

 

Comment by Carol Pease on August 2, 2012 at 1:40pm

I have been trying to get an FHA file open since June 21, 2012 when it was imaged into BOA's system.  For whatever reason I have not been able to get the file open even though they have all the documents necessary to do so.  The foreclosure date was July 3, 2012 and one of the BOA twitter angels helped me get it stopped.  However,  I have escalated and called every day and I've been hitting a brick wall.   I have filed complaints and opened a case with HUD,  but after 45 days still nothing.  The short sale can't be opened because it is too close to the foreclosure date which is now August 7, 2012.  

Last Thursday I was told that all FHA short sales will now be initiated in the Home Retention department and no longer in the Short Sale Department.  In order for one to be initiated the homeowner must complete the :waterfall, " which we have done.  We've done whatever they have asked,  but whoever pushes that FHA button isn't doing it.

I filed a complaint and it was responded to by a senior analyst named Steven Sass.  He would not provide a phone number and only responded via email.  The number for his supervisor in his email is a bogus Bank of America number in the document department.

I have attempted to file a ticket with the HUD service center on 2 occasions.  The first time HUD  connected me with the escalation department at BOA but it was the wrong escalation department.  I made a second attempt and I now have someone assigned, but after 3 days she has not returned my phone calls.

Bank of America is not allowing the homeowner to use the loss mitigation options that should be available to them.  I'm now wondering if this is going to be the new Bank of America tactics. I wonder if they are going to deny FHA short sales because they are too close to the foreclosure date.  I was told that they were following FHA servicer guidelines.

Anyone have any suggestions?  I could use the help.

Carol Pease

512-721-6320 

Comment by joe beauchamp on July 31, 2012 at 4:57pm

Dean, call the office of the president - for twitter, you give them a phone number to call you as direct message. In the office of the prez, they are usually (and definitely not always) more attune to big and political issues like yours. Be persistent. When it gets tough, many of them will be glad to get off the phone if they can. With calm facts and clear logic, sometimes they can fix things, however.

Comment by Rosemary Brooks on July 31, 2012 at 4:55am

Here is the link to the recent webinar from Bank of America on FHA Short sale process.  http://mp135934.cdn.mediaplatform.com/135934/wc/mp/4000/10584/12423...

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