Foreclosure not postponed due to us being in a Redemption State, Please help!
We have been working the Short Sale through Equator, we were unable to postpone the sale due to us being in a Redemption State therefore it was foreclosed on. I was then told by the Short Sale department at BofA that the borrower is still entitled to bring the loan current within the next 6 months or proceed with the short sale within that time period and the bank could not sale the property during that time eventhough it was Foreclosed. I was also told that the short sale is still active and it has not been canceled through equator.
Has anyone gone through this before? Can anyone clarify what this means? It seems that everytime I call BofA I'm being told a different story.
Thank you in advance for your attention in this matter.
Replies to This Discussion
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Permalink Reply by Kay VanKampen on
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I have the same problem with a loan. I'm working through equator with BofA and also had it foreclosed. They told me the same thing they told you. I keep calling back to claify that I keep it on the market and to short sale it and they said we have 6 months to close. I am proceeding with the short sale that is in place. Hopefully, we will have an answer within a month on the sale. I anxious to hear if anyone else has this issue.
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Permalink Reply by Claudine Ellis on
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I did NOT let my home go in foreclosure. I knew when the date was and called the CEO of BOA and any SVP, VPs and they stopped the foreclosure. They wanted contract showing the closing date and it was stopped. I got phone calls from cell phone of the SVP of Fannie Mae's BOSS! I was loving that. I have his direct line and cell phone number. How incredible. He helped me immediately. Dont let them foreclosure. They can stop it, but you must follow up. Until you have it in writing fromt he foreclosure attorney. DONT believe a word they say. BOA is full of sh......t!
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