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Jason-
First time I've posted a response.....I'd love to know if you work for BofA or how you have this valuable information. I am a buyers agent that put an offer on a short sale for some clients mid June, and got approval letter Sept. 10th, We were 10 days from closing mid Oct. and the seller filed BK inluding his house without telling his attorney that he had a house even on the market let alone that he had a SS going on that was 10 days from closing. We went through the steps his BK attorney told me we had to do to get the house out of the BK and able to close. We paid $750 for the "Motion to sell" (split between my buyer, me, and my broker....seller didn't care to do anything about it) to get the process done and waited out our time for the creditors to be notified and the judge to sign the motion. Then, went forward to close and realized the day before signing we needed a small change on the HUD. All parties signed, we waited for the HUD to be approved by BofA and suddenly that night, they pulled the plug saying that when there is an active BK, they won't do anything till it is discharged. I spent 2 + weeks calling/emailing EVERYONE that I could reach or get to listen. The attorney does this all the time and has never had an issue. He even contacted the attorney representing BofA for Idaho who asked the contact info we were dealing with so he could call and get it straightened out. It's been well over a month now. I finally gave up as it as sucking the life out of me trying to MAKE them understand that we had exactly what they said we needed (the signed form from the judge, and that they don't need to wait for the BK to be discharged.....as that's what the attorney told me). So, What do you think is wrong? Now the file was closed out in Equator and is reassigned to the same Negotiator that shut us down.) We just rewrote the deal and uploaded it to Equator (though because of some other issues I haven't gone into and the fact that the seller is just a very unkind and rude person to deal with...this deal has bad mojo by now....I have been trying to find something else for them but so far nothing is available.....)......and we are waiting for the negotiator to tell us what to expect now as far as time frame, etc. Will they start us over like we are brand new short sale? Because of what we've been through they will help get this rushed to the end within a week or two? BTW...my clients have been homeless since July, sold their home out of the area and came here and been living 1 1/5 hours from the property at his dad's basement....driving their kids (5 under 12 yrs) to the appropriate school area for the house. Any help you can give me would be great. I posted a post about this a couple days ago and hadn't heard from anyone. ;) Thanks
Laurel-
Sorry to hear about the difficulties you and your clients are experiencing. It sounds as though the granted motion to sell was received and submitted but that the file was closed out due to the active bankruptcy which would lead me to believe BofA failed to properly upload the granted motion to sell to the file and when the negotiator reviewed the file they realized this was missing and closed out the file which is standard procedure for all of the banks. You need to confirm BofA still has a copy of the granted motion to sell and request that the file be escalated due to BofA's mistake. I would contact the Office of the CEO and President and make them aware of the issue. I would also threaten to contact the Comptroller of Currency if they don't make this file a priority and put the file on the fast track to close! The bank is obviously going to be busy focusing on the files it is able to close out before years end and thus you're going to need to be aggressive! Your clients are lucky to have a dedicated and tenacious professional working on their behalf! Good luck!
Jason Opland
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