Comment

Comment by Christy Brock on April 13, 2012 at 8:03am

That is the beauty of showing them the addendum! You don't have to say anything.  Just let them read it.  If they still don't believe, have them ask BofA themselves.  Someone on the Twitter Team could speak intelligently about the subject.  DONT let them just call Customer Services.

Comment by Mary M. Bremer on April 13, 2012 at 7:59am

Christy - Exactly.  I told my client that I would put this message out there to get feedback.  Have you ever tried telling a seller that their attorney is wrong......

(ok, that's a whole different topic of discussion...)

Comment by Christy Brock on April 13, 2012 at 7:42am

Mary - the attorney is 100% wrong.  The sale would violate the 3rd clause of the BofA short sale addendum that everyone must sign.  The transaction would also violate the 4th clause which prohibits the sellers to remain in the property.  Just show your client the addendum and point this out.  Then point this out to the Attorney because s/he is giving false information and creating a huge liability.

Comment by Mary M. Bremer on April 13, 2012 at 7:35am

RELATED TO THE BUYER.... 

I have a seller client who has an attorney that told them that their parents can purchase their home from them as a short sale.  Attorney is telling my client that BOA does this.  Reeeeealllllllllyyyy......?   If anyone has successfully closed a BOA SS with a related buyer, please respond.  Thank you.

Comment by Michael Schneider on April 11, 2012 at 3:32am

M&T Bank is a large regional bank in New York, with footprint in the Northeast.  No relation I believe to BofA or Merrill, at least of the type described here.  Publicly traded under the holding company MTB.  As least as far as I know.

Let's not sell it just yet.  Besides, not sure BofA wants to be bigger than it is.

Comment by Catherine Gheen on April 10, 2012 at 5:53pm

They key is to escalate the file to get someone good.  I have noticed on the modification files they use a company called Bayview Loan servicing.  Again if you can escalate the file you should be fine.  I think M & T is a bank that B of A purchased or might have been under the umbrella of companies when they had to purchase Merrill Lynch

Comment by Kylee Roe on April 10, 2012 at 5:08pm

Thank you. No it is not a HAFA. Does this mean M/T is following B of A guidelines, procedures for closing short sales, or are they their own entity? If just an arm of b of a, that is good! If they are on their own...so far...they are not very organized.

Comment by Catherine Gheen on April 10, 2012 at 4:34pm

Kylee, M & T Bank is under B of A, having said that you may have to use the B of A short sale addendum whereby the bank wants to know when the seller will be out and by how many days prior to the close of escrow.

If it is a HAFA short sale there is no way to do a rent back at all, as that is a violation of the terms of the HAFA guidelines.

Comment by Kylee Roe on April 10, 2012 at 3:21pm

....er, rewrite Counters that is.

Comment by Kylee Roe on April 10, 2012 at 3:20pm

Howdy! Got an M n T 1st, and a B of A 2nd/Heloc. Counter offer between buyer and seller says seller can rent back for 2 weeks post COE. (cash offer, closes in 14 days, so seller needs time to leave). Thinking the rent back may not fly with lien holders. Should re-write offers?

• ‹ Previous
• 1
• …
• 93
• 94
• 95
• 96
• 97
• …
• 353
• Next ›
• Page