urgent help: BOA short sale approved

Hi,
my short sale approved last week, got approval letter from BOA. They
give us 3 weeks to close the escrow. At same time my HELOC is is also
wiped out with 25% payoff.
Approval letter showing that BOA is waiving right for deficiency but
Approval Letter has only my name on it , but my wife's name is missing
(she is also on the loan), wondering if they purposely missed her name
and persue deficiency against her after close

Can someone please help me on this ???, my closing is set in next 2 weeks

Thank You

Views: 36

Replies to This Discussion

Permalink Reply by Gerald Demers on December 4, 2010 at 8:25pm
I have not seen this before so it seems like a simple mistake and not something devious. Has anyone else seen this before?

Regardless if it is or not, my understanding is that the approval letter includes the names of all borrowers. Since yours does not, it seems to me a proper response is to reply that the approval letter does not address all affected borrowers; it is missing your wife. Request that this be corrected and sent back to you.

It seems is should not be an issue to correct.
Permalink Reply by Kelly Timm on December 5, 2010 at 7:35am
I had this happen with a client once and its just an oversight on the banks part. You will need to contact a senior negotiator to have them make that change. It can be done quickly and revised approval will be sent out. Do not listen to the clods who may tell you to start over (there is a chance you will hear that, its not true)

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