Received Bank of America Short Sale Approval with Deficiency WAIVER!
Hello All,
Great news! This is indeed a first for us. Not sure what experiences you all have had; but we sure hope this is a harbinger of things to come.
We just received an approval letter from Bank of America with an explicit waiver of the the bank's and investor's rights "to pursue further judgment or deficiency."
The format of the new letter is slightly different than what we are used to, and it includes an additional "Defienciency Evaluation Tool" page.
We are putting together a recap of this approval and will post here or on our blog (http://www.homeclosingprocess.com/) as soon as it's complete.
Chris Black
Attorney
Winged Foot Title, LLC
8695 College Parkway, Suite 1041
Fort Myers, Florida 33919
P: (239) 985-4142
F: (239) 425-3518
Replies to This Discussion
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Permalink Reply by Janie Booth on
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Congrats, Chris! Thanks for sharing. Was BofA the investor, too?
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Permalink Reply by Chris Black on
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Thanks, Janie!
Fannie Mae is the investor.
Chris
Janie Booth said:Congrats, Chris! Thanks for sharing. Was BofA the investor, too? -
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Permalink Reply by Kent Dills on
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Chris, did B of A waive the Deficiency without you having to ask for it?
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Hi Kent!
This was absolutely unsolicited. In fact, we have been very up front with Bank of America short sellers about its traditional and repeated refusal to waive the deficiency language in its approval letters.
Best,
Chris
Kent Dills said:Chris, did B of A waive the Deficiency without you having to ask for it? -
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Miracles do happen :-)! Looking forward to seeing the new language they used.
Chris Black said:Thanks, Janie!
Fannie Mae is the investor.
Chris
Janie Booth said:Congrats, Chris! Thanks for sharing. Was BofA the investor, too? -
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