Started this discussion. Last reply by Deborah Y Wilson Sep 17, 2014. 3 Replies 0 Likes
I have a B of A Coop SS that was approved and almost made it to closing....but USDA buyer hit a bump and needed extra time. B of A would only give a short extension. We needed about another week. We…Continue
Started this discussion. Last reply by Brian Avery Feb 15, 2013. 10 Replies 1 Like
Hello Everybody,Just received an offer on a short sale listing (B of A 1st, Chase 2nd).The contract stipulates that the sellers cooperate with the buyers' 1031 Exchange. It's been a few years since…Continue
Started this discussion. Last reply by Deborah Y Wilson Dec 16, 2012. 7 Replies 0 Likes
Has anybody closed a short sale with M & I Bank / aka now BMO Harris Bank where they forgave the deficiency amount? I see a comment in…Continue
Tags: commission, deficiency, Harris, BMO
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BMO Harris does not do short sales or Loan modifications. You almost always have to litigate a settlement with them or you will not get one done. They will tell you straight up that they do not do short sales and they will tell you they never modify. They bought out M & I Bank, and M & I has a lot of shaky loans so it is usually not hard to get them to a settlement if you work with an attorney to press a forensic loan audit and litigate. It will cost your seller to do this, but can be worth it if the settlement is a good one for the client. Otherwise, sometimes foreclosure is their best option with this lender.