Hello All,
My client just called me, because she just received a Foreclosure Notice from an Attorney's office stating that they are going to foreclose on her home on March 2, 2010.
We have been in Short Sale He?? with BOA since September, 2009. We were just assigned our 1st negotiator three weeks ago. I spoke with the negotiator on last Wednesday and of course she informed me that she hasn't had a chance to review the file yet. She asked me to call her back on this Tuesday.
I asked the negotiator if my sellers info. needed to be added to Equator and she said "no...because if the file is in Equator, then I wouldn't need her.
Fast forward two days later and my client receives a Foreclosure Letter.
What do you do in this case?
I've worked on short sales with other banks where this has happened and I went directly to the Foreclosure Department to stop the Short Sale, but with BOA, I have no idea where to go?
Please, any advice would be of great help.
Thanks
Tags:
I have the same situation. They just gave me specific dates to ask the negotiator to request a postponement. I'll have to check my file but it's a certain number of days before the sale date. You have different days depending on if a short sale has been accepted and another day if it hasn't. I can check my file tomorrow if you need the # of days prior to. Just let me know.
Melisa, I'd be surprised if they foreclose. Just stay on them and make sure the sale gets canceled. If they refuse to cancel it have the sellers get an attorney involved. There are things an attorney can do that will stop it in it's tracks.
Melisa:
Get a copy of the foreclosure notice. There will be an attorneys name on it and/or the trustee's name on it on the last page. Google that company, get their phone number and give them a call. You may have to fax your letter of authorization to them. Call the trustee's office and the attorney and state your case. I had one scheduled for the 2nd of February and I got it moved ot the 2nd of March.
Get to your negotiator and tell her she needs to cancel the sale. They need to know by the 2oth of the month to get it done. Keep an email log of what you are doing.
If all else fails ask for verification of the note and send it certified to the address listed on the foreclosure notice. If this was a Countrywide and now BOA, who knows where the note may be? The foreclosure notice will have language about verification of the note and that they must stop foreclosure until they provide you with proof that the company foreclosing actually has the right to do so. Don't ask for verification until you are within the 21 days so wait a few days so they have to postpone it til the April sale date. There are many ways to skin that cat.
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