Comment

Comment by Dawn Barrier eXp Realty Vegas on November 16, 2009 at 7:47am

Good luck Mayra, just hang in there!

1 of my short sales just got bpo over weekend....the other one is now delayed due to phase 2 negotiator got transfered to another dept after file was in phase 2 for 3 weeks new negotiator is so bogged down they won't even review the file again for 2 weeks! Ugh!

Comment by Mayra Espinosa CDPE, HAFA, SFR on November 15, 2009 at 6:14pm

I am going to try it to my first Short Sale with Bank of America. Please whish me good luck!!! I am going to follow up with you, to see how it is working for you, good luck with your Short Sale!

Comment by Carmen A. Jones on November 10, 2009 at 1:36pm

Its taking longer.. i have one in phase I for 4 months because they were trying to do a forced loan mod WITH $300k principal reduction... but her payments got higher... and imagine these mistakes.

Has anyone gotten 2 negotiators at at time on one file? I had one counter my buyer at $250,000.. our offer $200,000, then two days later a new negotiator counters at $280,000, after I already countered my buyer $250,000 to then get an approval a few days later for the original $200,000.00? Or have your file verbally rejected and then get an approval with no reductions or commission cutting a few days later after the buyer walked? If Bank of America is making these kind of mistakes, by all means, keep them coming! :) Miami, Fl.

Comment by Dawn Barrier eXp Realty Vegas on November 10, 2009 at 4:51am

Wendy, Yes, I agree the dates seem to change all the time and yes they are business days. I've done the escalate on some files it works and recently it has not seemed to help a bit

Comment by DOREEN INZALACO on November 9, 2009 at 4:08pm

All of my Bank of America short sales whether on the listing side or buyer side has taken 4 months minimum to 6 months for approval. Also if a buyer drops out even after receiving approval and the back up buyer is immediately submitted with same terms, Bank of America makes the file start all over again thus waiting 4 months for another approval. The 10 days, 15 days and the 30 days Bank of America states are business days not calendar days.

Comment by Wendy Rulnick on November 8, 2009 at 4:11am

Dawn - They quote what is convenient. Also, they do not stick with those timelines, those are just "guidelines". If they hit the deadline, you can try to escalate, but repsonse to escalation can take 7 business days. All days are in business days. Also, getting to Phase I can take two calendar weeks in my experience.