Help was just told by B of A that seller has a foreclosure date of 5-3-2011

Working on BOA short sale requested HAFA. BOA sent documents to homeowner who completed all required documents and promptly sent them into HAFA department. I called to check on the status of the short sale request and was told file had to be removed from Equator and foreclosure date was set . BOA offered to reset the request for shortsale but only regular short sale not HAFA, says homeowner does not qualify for HAFA since there is a sale date. I saw info for Escalation to request HAFA, but I'm not sure how it works.  I am going to ask homeowner to call BofA and request status of all Hafa paperwork already submitted and I read the info saying that if escalation home can't be foreclosed until resolved.  Can anyone give me more info on how the escalation process works.  Please help, I don't want this homeowner to be foreclosed, she has been requesting HAFA shortsale for 60+ days and just received paperwork last week completed it and sent it back.

Views: 75

Replies to This Discussion

Permalink Reply by Shannon Renner on March 31, 2011 at 12:39pm

Hi Ava~

I just went through the same thing with 2 of my sellers.  The HAFA short sale will not be agreed to....B of A does not really want to do them.  It's obvious.  1 of my sellers met all the timeline guidelines and was denied due to higher income and another seller was denied because she missed the timeline by 2 days!  So I just spent 2 hours on the phone with Bank of America yesterday to get the foreclosure postponed and it worked.  The best thing to do, in my opinion, is to get the process going in Equator.  They can get all your docs verified within 24 hours so that then you can call the short sale department and start "hounding" them to postpone.  Depends on how many days your seller is away from foreclosing.  Mine was less than 7 days away.  They have given me basically 45 days to find a buyer.

 

Permalink Reply by Laura Rencher on March 31, 2011 at 2:28pm
We had luck escalating to brian monihan's office and escalating through Freddie Mac. They tried to do this to us twice so far while being in HAFA application and later with a signed HAFA agreement. The guidelines very clearly prohibit this...complain as loud and long as you can...

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************