Comment

Comment by joe beauchamp on April 27, 2013 at 1:46pm

Kathy, because the bank will go over the sellers' credit report, bank statements and financials, they will see the activity and "extra" money somewhere. Logic is not used by most of your contacts at the bank, so they will see $$ and demand it. I, too, assume you are best off waiting until after closing on the new place and use medical as the primary hardship reason.

Comment by Kathy Deal on April 27, 2013 at 12:56pm

The sellers wife has a medical condition that makes it impossible for her to do the stairs in their townhouse which is 3 levels.  They absolutely need to get her better living quarters.  That is the only reason they are getting another home and need to sell the townhouse.  Opinions welcome

Comment by Stephanie Hart CA 310-930-2342 on April 27, 2013 at 12:45pm

I agree... I wouldn't take the listing.

Comment by ElizabethWeintraub00697006LyonRE on April 27, 2013 at 12:32pm

Except for Cooperatives, I've had no other banks approve a short sale for a seller who bought a new home in the same area. Moving out of state seems to be OK but not in the same vicinity. They all come back and say they are not rewarding the seller and they will not approve the short sale. So if I see a seller has bought a new home in the past 12 months, I don't list the short sale. I'm in the business of closing short sales, not listing them.

Comment by Rachael Babinchak on April 27, 2013 at 11:08am

I waited for the new home to close before the SS.  (This was not a buy-and-bail-legitimate reason to move and BAC wouldn't modify his payment otherwise he would of rented instead of SS.)  Saw attorney fir.

Comment by Kathy Deal on April 27, 2013 at 6:18am

I am getting ready to list a BofA VA loan for Short Sale.  The seller is buying another home.  Should I wait until the other home goes to settlement before loading this in equator?  I appreciate your feedback.

Comment by Wendy Rulnick on April 25, 2013 at 5:24pm

@Sara and @ Elizabeth it was a business manner issue I had a problem with, the lack of politeness, and the sarcastic attitude.

Comment by Hope Crystal on April 24, 2013 at 5:16am

Anyone have any information or a contact at BAC that can help me with this situation? Here are the facts:

1. Seller discharged from BK in 3/09 after being denied 2 SS. House was included in BK chap 7.

2. Seller went to purchase a home in 10/12 after waiting over the 3 yr Fan/Fred guidelines for FHA.

3. Cert of Title wasn't transferred until 10/10 which because home was included in BK this shouldn't be a factor as it is not reflecting as a FC on their credit report.

4. BAC waited to file the claim with HUD until 4/12 which then put them on the caivrs list prohibiting them from closing on their new home 10/12.

5. So we were told we could go conventional 3/13 (4 years after BK) 

6. Now we are being told that it is 4 yrs or more years from the date of the cert of title transfer on conventional loan as it is being treated as a FC, though not on credit report and was discharged in the BK.

7. According to Dept of HUD's servicing center.. the bank can pay the interest and wait as long as they want to file a claim. There is currently no statute of limitations and this is unconscionable.

8. So my client now has to wait 2 more yrs to go FHA or possibly 2 additional yrs for a conventional so a total of 7 years?

How can the bank do this and it is only BAC doing it...? of course! Dept of HUD said there is a way to suppress the caivrs do to the fact that this is happening to a lot of people... any one have any luck? We were given 2 names to call from HUD's escalation team to request this.

My clients have over 700 credit scores, have next to perfect credit 4 yrs after BK and excellent dti and I can't find a lender to do their loan. PLEASE HELP!!!! BAC knew what they were doing! In fact, my client received a settlement from them from the class action.

And to make matters worse... this was a bad CW loan and they never could have foreclosed if the Seller didn't acknowledge the debt by initiating the SS... but as this was in the beginning of the crash, no information was available as far as QWR, etc.

We are filing a compliant with the CFPB, OCC, HUD for deceptive and unfair and unconscionable business practices as well as the AG and filing a lawsuit for damages as well.

Any info or contacts would be appreciated greatly!!!

Comment by Gordon K on April 24, 2013 at 3:53am

Anyone have a contact that can help us resolve an issue regarding an approval extension? We have been working a file for over a year and finally have a buyer sticking it out. Approved with $13k incentive to seller. Original approval letter gave us an April 10th closing date. When the buyer's lender was not going to be able to close by that time, we requested an extension through April 30th. We were given until April 24th. Again, we are asking for approval through April 30th and are being told they cannot do it. This is absurd in my opinion, but before I escalate via social media I'm wondering if there is a better route since the file is with a closer already?

Comment by Gita Bantwal on April 24, 2013 at 2:32am

HELP. I would appreciate a contact number for someone at higher level as we need to close on the house soon before the approval by PNC expires. The buyers offer was countered and buyer accepted the BOA counter.I understand they must be busy as it is the spring market. I hope  they  hire more people as they are short handed. They will have to process a lot of transactions before Dec 2013.

• ‹ Previous
• 1
• …
• 19
• 20
• 21
• 22
• 23
• …
• 353
• Next ›
• Page