Co-Op Application in Progress, Just Received Notice That The File Is Being Service Released
My seller has been working with LRC to get a co-op accomplished; they've done valuation and it's in the negotiation stage. We just received notice that the seller's loan is getting transferred to Green Tree Lending in about four days - is there a way to prevent this from happening?
I've contacted LRC, who tells me BOA can do it and they can't; I've contacted BOA, who tells me they can't do it but LRC can.
Replies to This Discussion
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Permalink Reply by joe beauchamp on
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LRC works for BOA - it is BOA's servicing right that is being sold. I have seen here that at least once, someone was able to get a loan back - with a lot of work - after it had been approved and ready to close.
You need to go high to get anywhere, if it is going to happen. Maybe the BofA Office of the President.s
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Permalink Reply by Pattilynn Guilford on
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I haven't been successful in getting a loan back as there are contracts between the servicers with not one or two but many investors and they all have to sign off on it. Not likely any of them agree especially where money is concerned because its all about the money.
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