Has anyone come up against this. On June 10th I received short sale approval from B of A with a July 28th COE. Yesterday July 2nd I received a message thru Equator stating that the loan would be service released on 7/7 to SPS. Will SPS honor my approval? How long will it take for SPS to get the loan in their system? I have reached out to everyone involved at B of A and have asked them to postpone the transfer, will they? The buyer is renting and has already given 30 day notice, the landlord has already found a new tenant, this has put everyone in limbo and a bad position not knowing what is going to happen. Property is located in CA. Has anyone ever dealt with this situation? Any advice is greatly appreciated.
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You need to try to get the service release date postponed. Yes, this is possible but not guaranteed with Bank Of America. If it is service released, you need to try to get SPS to uphold the approval letter. Which is possible depending on factors, but it's not guaranteed either.
Hope everything works out and let me know if you have any questions or need support.
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com