BANK OF AMERICA FHA - PROBLEMS & Changes???
I have been trying to get an FHA file open since June 21, 2012 when it was imaged into BOA's system. For whatever reason I have not been able to get the file open even though they have all the documents necessary to do so. The foreclosure date was July 3, 2012 and one of the BOA twitter angels helped me get it stopped. However, I have escalated and called every day and I've been hitting a brick wall. I have filed complaints and opened a case with HUD, but after 45 days still nothing. The short sale can't be opened because it is too close to the foreclosure date which is now August 7, 2012.
Last Thursday I was told that all FHA short sales will now be initiated in the Home Retention department and no longer in the Short Sale Department. In order for one to be initiated the homeowner must complete the :waterfall, " which we have done. We've done whatever they have asked, but whoever pushes that FHA button isn't doing it.
I filed a complaint and it was responded to by a senior analyst named Steven Sass. He would not provide a phone number and only responded via email. The number for his supervisor in his email is a bogus Bank of America number in the document department.
I have attempted to file a ticket with the HUD service center on 2 occasions. The first time HUD connected me with the escalation department at BOA but it was the wrong escalation department. I made a second attempt and I now have someone assigned, but after 3 days she has not returned my phone calls.
Bank of America is not allowing the homeowner to use the loss mitigation options that should be available to them. I'm now wondering if this is going to be the new Bank of America tactics. I wonder if they are going to deny FHA short sales because they are too close to the foreclosure date. I was told that they were following FHA servicer guidelines.
Anyone have any suggestions? I could use the help.
Carol Pease
512-721-6320
Replies to This Discussion
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Permalink Reply by Bryant Tutas on
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BofA FHA is the worse. I have several in different stages right now.
See if this will help;
FHA Pre-Foreclosure Sale Quick Reference Guide FHA Pre-Foreclosure Sale FAQs 
FHA Pre-Foreclosure Sale Webinar Replay | PDF version You can also escalate directly to HUD.
FHA National Servicing Center
(877) 622-8525 Customer Service
(469) 674-4451 Fax
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Permalink Reply by Carol Pease on
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Bryant!!!
Thank you for the references. I've read them all and it amazes me how little the servicers ever follow the letter of the law. You have to push and shove and they hope you give up. I do have a ticket open at the service center and the person assigned to the file called this morning and verified that I have had an offer for 45 days. They are working on it.
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Permalink Reply by Dean E Eshelman, CPA, CDPE, IRES on
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Carol, I have had great success working directly with HUD, before the foreclosure. But with this one where HUD told BofA to rescind, my HUD guy has not responded to my inquiries. Probably because there is nothing else he can do other than place a claim block on the loan. As to Twitter, I was told BofA was not receiving my tweets cause my account setting is marked to private. So unchecked setting and tweeted again. Got a call this afternoon. I am told that there is a two hour response time for the twitter team. I also emailed a copy of the HUD demand for the recission the the Eviction Dept at the foreclosure attorney -- the email was in the letter the homeowner received. They responded that they were in contact with BofA for further instructions. Twitter team is supposed to have some answers Monday. If you would like to call me at 636-448-3627 we can talk further.
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As of this afternoon, the file is finally open after 48 days. However Bank of America has denied the postponement because it is too close to the foreclosure date. I have a negotiator, the appraisal has been ordered, but still we are on the block.
Grrrrrrrr
Carol Pease
512-721-6320
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