Replies to This Discussion

Permalink Reply by Katerina Gasset on July 3, 2010 at 4:51pm

If you are using Equator it should take another 30 days.

Permalink Reply by Vicki on July 14, 2010 at 4:19am

Thanks Katerina,

We are at the two week point today and I have heard NOTHING. Should I be doing something? Is this usual?

Permalink Reply by Jerry A. Ringo on July 14, 2010 at 7:26am

Vicki said:

Thanks Katerina,

We are at the two week point today and I have heard NOTHING. Should I be doing something? Is this usual?

Check the status bar on this property--the sequence is INITIATION, DOCUMENT COLLECTION, VALUATIONS, NEGOTIATION, CLOSING, SOLD. I would suggest calling Short Sale Support, and ask if the file is moving forward. I would also suggest messaging the Negotiator and give the details--sometimes they can pick up from where they left off, provided all the time-sensitive documents are still current.

Permalink Reply by Susan Pierce on July 14, 2010 at 10:50am

I am facing a similar situation with BoA and interested to hear everyone else's experience with this. Our issue was with the MI company wanting seller to sign a promissory note and when she refused BoA declined the short sale rather than continue negotiating with the MI company. Someone higher up at BoA suggested we just resubmit in the hopes we get a stronger negotiator that can handle the MI company. Not sure what to do.

Permalink Reply by Vicki on July 29, 2010 at 2:09pm

Today is day 30!!! Still no word on a closing date.
Getting nervous again.
Mortgage lender wants to close by August 6th.
Listing agent says it's probably not going to happen. He does say that it's saying "in progress" though.

Is this usual???

Permalink Reply by Frank Mir on July 30, 2010 at 10:33am

My experience is that the file moves much faster the 2nd, 3rd or even 4th time around. I call on my file every other day to make sure it's moving along. Start with short sale support and they will tell you what the next task is and if the file is moving along. If for some reason they are overdue on any tasks you can have the file escalated to the escalation team. Have your agent e-mail the negioter as well to see what's happening. If that doesn't work keep going up the chain like it's a job........................