I am in a short sale with bofa. My home was appraised at 250K with similar places in the exact neighborhood selling for around $215. I owe $400 on the loan. So i get an offer for $250, which BofA approves. YEAHHHH!!!! I thought it would be smooth sailing...WAIT...NOT SO FAST!!!! after a grueling 4.5 months, the buyer decides to back out a week before close of escrow with some lame reason. What happens next is what confuses the heck out of me. So no big deal..we have other offers on the table.

BofA sends a new short sale agreement since the buyer canceled. This time BofA decides for not apparent or justifiable reason to increase the short sale asking price to $300K....what the heck are they thinking. Before when the house was on the market at the current market value i could not keep the potential buyers away. Now BofA decides to increase the asking price without any valid justification. Now we are lucky to even get a call from anyone. What the heck is going on over there. My realtor has sent them the comps and everything through the equator system and has even asked the negotiator for the reason for the price increase and their answer is "the bank came up with it" .. Did they not run comps? Are they blind? Prices in are area have been going down, not up!!!! we have until the end of March to short sale the place, but i doubt that will happen as long as the price is as high as it is. What are they smoking over there at BofA.

Has anyone else encountered this problem...if so, please tell me how you got them to fix the problem.