Third extension???
We have been in the process of a short sale since January. We have had, like everyone many ups and downs. Our latest challenge was having to change a name on the shortsale. We were able to get an approval for the name change and extension after 6 weeks. This approval came in yesterday. The catch is....it states that we need to close by the 8th!
Our atty is saying this is impossible. He is saying that we will ask for an extension. After reading SEVERAL horror stories about extensions, and just asking for one I DO NOT WANT TO WAIT AGAIN.
1. If we do ask for an extension how long with it take for them to get the approval back to us? (We were hoping to close by the 14th? The last extension took 6 weeks.)
2. What are the chances of BoA just closing the account?
Replies to This Discussion
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Permalink Reply by Esther M. Camarotte on
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I just received my 3rd extension and was told that it will be the last. Initially, the negotiator said no but I called the corporate liason at the Charlotte, NC and we got it. So I would put something together from the attorney and plead your case to the corporate liason and you should get it. I will also say that corporate liason said due to the length of time the property was on the market that they are being forced to not extend after the 18th of June. So be prepared for that response if the answer is no that due to their guidelines or investor guidelines they might not extend.
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Permalink Reply by Diane and Doug Briggs on
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Hi Esther,
Who did you call at the corporate liason office in Charlotte? Do you have a name and telephone number.
I received an approval letter on Friday with COE date June 15th. Impossible!! Negotiator is telling me I need to contact closing agent. I don't have a name and she wouldn't/couldn't tell me who closer is. Don't have time to lose so if you would please send me contact info I would apppreciate it very much.
Thank you in advance! -
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Call 704-386-5681 and ask for the Office of the CEO you get the corporate liaison. Make sure you get a name. I always start out telling them about how much the real estate community hates working with BoA because of exactly what is going on, blah, blah, blah. If you work short sales I know you know what to say. Then state your problem.
They should tell you they need like 48 to 72 hours and that someone will get back to you. They always do get back to you. I have had a good experience at this telephone and they always follow up. This is the telephone where you go to complain about their short sale negotiators. They will get a supervisor involved.
Hope that helps and give an update. -
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