Hello Superstars. 

I am hoping that some of you can offer me advice.  I am a buyer.  My husband and I went to our closing yesterday and signed all of the paperwork but did not get our house.  B of A has not approved the final settlement. 

The final settlement is exactly what was agreed upon.  The issue is that B of A has reassigned negotiators multiple times and the seller's agent cannot get someone to actually look at the settlement and approve it. A new negotiator was assigned yesterday.  That person extended the approval on our appraisal to next Thursday.  The seller's agent believes that they will give the approval by Thursday.  If we do not get the approval by Friday, the short sale agreement expires and I lose my loan lock.  I am a USDA buyer and had to go through multiple layers to secure my loan.  There is no guarantee that I will be able to get another loan.  Also, my loan offers a generous closing cost credit and good terms and I do not want to lose it.  At this point I have invested $3K in closing costs on this house.  If B of A does not approve this by next Friday I lose that money and we have no place to live, as we must leave our rental house by the 15th. 

B of A has had our final HUD-1 for 10 days.  That seems ample time for review.  I do not think the seller's agent is managing this well and I guess my hands are tied as buyer.  But is there anything that I can do?  I would, at the very least, like to write some letters.  Who can I send them to at B of A who may receive them and read them on Monday?  Any ideas for me?  Thank you for reading.

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You can tweet the B of A help team and they are amazing!!!  @BofA_Help.  If you do not tweet, you can have the listing agent email them using their escalation tool.  However, I would suggest that, if you dont tweet, you open a twitter account and do it yourself!!  They will get back to you within a few hours and can and will help you.  I am a listing agent and used the tool twice last week and had both of my issues resolved within 48 hours.  They can do things that no one else at B of A can do!  Trust me....they are amazing.  If the Listing agent wont escalate, have your agent use the escalation tool email.  If she doesnt know what it is, have her contact me and I will give it to her (480-206-1313)

But, all in all, twitter is THE best way to handle this!!!

Good Luck

Thanks, I will try Twitter.  I did not know that they would speak to me, as a buyer. 


I am also interested in getting an email address for whatever office in B of A might want to mitigate negative publicity.  I plan to write to the media and our state rep. and I want to CC them.

it is always best for the listing agent to twitter them if she/he is being agreeable and really trying to get it done.  If the LA wont do it, the next best thing is to have your agent do it.

Hi Michelle, I am in desperate need of the escalation tool email....... I am the buyer's agent and the listing agent can't seem to get a final approval on the hud. My buyer is threatening to walk...... Can you send me that info. Greatly appreciated.....

Amy, I echo the sentiments of reaching out to the social media team.  If that doesn't get results in two days  I would then have the listing agent contact a local sales manager with Bank of America to help.   I had this situation occur (I was listing agent) and my local Bank of America lender contacted his supervisor and he reached out to his contacts at corporate and we had approval the next day!  Either your agent or the listing agent should have a BofA lender they can contact.  Good luck!

 

Brenda Wood, Realtor

Virginia

Thanks for your responses.  I tweeted and got a call within about 5 hours.  I gave them the listing agent's number.  They called her and she turned down the help.  I guess she thinks she will get there with the latest negotiator.  I really hope that's true.  Thanks again for the information.

Michelle and Brenda - You really are superstars!  Thank you so much for responding to my plea.  When the listing agent didn't return a call from the Social Media contact, she escalated it anyway.  Today after a few more calls from me she called the negotiator's supervisor and then spoke directly with the negotiator.  It took until the very end of the business day but we have the approval.  Hopefully the title company, my mortgage broker, and my lender can pull together a close tomorrow so that my loan lock does not expire.  They are all planning to do it and we are cautiously optimistic. 


The Social Media contact was awesome.  Plus, once she called me I had her direct number in my phone and could call her voice mail without getting lost in the phone system.  Twitter is absolutely the way to go!  Thanks again!

Oh, Amy.....I'm so happy to hear that you had good results! I was shocked and amazed by the help desk team. They are truly amazing and a great resource! Congrats!!!!

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