Replies to This Discussion

Permalink Reply by Celeste ODea on September 22, 2011 at 10:23am

What's the "side deal" mean?  Are you the listing agent?  Do you already have a Contract of Sale on the property?  Has the Seller been approved for the FHA HUD PFS Program?  If it's an FHA loan, they must go through the HUD Program first.  It's quite different than the traditional short sale process.

Permalink Reply by Ralph on September 22, 2011 at 10:39am

Seller side, yes I am the listing agent working with another mls agent. Contract is from late May with HUD pre approval letter from early May stating put the house up for sale at $160k net $141k. Buyer is ready and need final approval letter to get ctc. Last change took three weeks for BoA to acknowledge ..that was to remove $53 from seller side of HUD. Thanks Celeste do you have another escalation contact?

Permalink Reply by Celeste ODea on September 22, 2011 at 1:15pm

Wasn't able to respond to you because the system didn't have the "Reply" button for some reason.  In any event, HUD is suppose to accept the offer within 5 days if all the terms are met.  I'm confused as to why it's taking so long if you met all the terms as outlined on the PFS Approval.  You can contact the Chairman's office and they will have someone from an appropriate department contact you within 24 hours.  Send me an email and I'll help you out ([email protected]).

Permalink Reply by Ralph on September 23, 2011 at 3:32am

Thanks Celeste it been a pleasure writing to you, I appreciate your time and info. Thanks again Ralph

Permalink Reply by Jeff Payne on September 22, 2011 at 11:08am

Ralph, with all due respect, agents are not going to give you their good escalation contacts because they risk losing that contact.  Do a search on this site for BofA contacts and you will turn up plenty. Also, go to jigsaw.com and search for your contacts and email as many of them as possible

Permalink Reply by Ralph on September 22, 2011 at 2:33pm

You are correct Jeff...the agents responded in private.

Permalink Reply by Wendy Rulnick on September 22, 2011 at 11:53am

Use Twitter to BofA_Help

Permalink Reply by Ralph on September 22, 2011 at 2:34pm

Thanks Wendy

Permalink Reply by Kevin - Greenville, SC on September 22, 2011 at 11:13pm

Ralph,  Have you contacted HUD's National Servicing Center?

 

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sf...

Permalink Reply by Ralph on September 23, 2011 at 3:28am

No but I will now thanks a lot  Kevin!

Permalink Reply by Flor Melgar on September 23, 2011 at 2:38am

What is the issue?  FHA loans are pretty straight forward.  Is your offer in line with the percentages that FHA will take?

Permalink Reply by Ralph on September 23, 2011 at 3:30am

It has been straightforward, Flor its just slowed to a crawl with communication from the negotiator for the last few weeks.

 

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