Buyer on a BOFA short sale- Frustrated !!!!!!

My  offer was accepted  from the seller on 3/20/11. The seller opt out of the HAFA short sale.  Sellers agent  received message on 6/3/2011 from equator  “The valuation for the property at XXXXXXX  is complete and we can move the short sale forward”  and then on 6/24 the agent received the same message? Whats next? How much longer to receive a response on my offer? The offer is at FMV.

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Comment by Christina Conrad on July 11, 2011 at 4:03am
I agree with Bryant...it really depends on a lot of factors..but BOA does approve ss...I have a ss with BOA that was initiated in September of last year and I am just now getting the approval letter and they are the 2nd lien holder..I can feel your pain.,
Comment by Bryant Tutas on July 5, 2011 at 1:11pm

Hi LInda. No telling how long it will take. My experience with BofA is that they usually take 43-5 months to issue an approval. But a lot depends on who the investor is and whether or not there is mortgage insurance and are there more than 1 loan. My other experience with BofA is that they DO approve short sales. They just take time because they have so many of them to deal with.

 

I truly hope this all works out for you.

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