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Bank of America and cancellation of Loan Mods?

Posted by Christina Conrad on July 29, 2011 at 5:43am in Short Sale Discussions
Every once in awhile I get a seller that is in an active loan modification.  Of course, they have to cancel the loan mod in order to proceed forward with a short sale.  Bank of America won't cancel the loan mod, so we can initiate the ss in Equator.  The seller has called and opted out of loan mod and faxed in letter opting out of loan mod...We have been waiting a week and have a f/c scheduled for 8/8/11, and have not been able to initiate the ss in Equator yet...any suggestions on how to get BOA to cancel the loan mod out of EQuator...they can do it in a New York minute, but for some reason are lagging on this particular file...suggestions?

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Replies

  • Christina Conrad July 29, 2011 at 9:16am
    Apparently when the seller called in to cancel the loan mod..they made the statement that they wanted to initiate a traditional ss...BOA took that as "they" the sellers were initiating the ss on their own..so the ss was set up and assigned to them in EQuator...lol...every time I was trying to initiate the same it wasn't allowing it because of that reason...finally got a hold of a "HELPFUL" person, and they told me that we would have to request to have the file assigned to us...fortunately, she walked me through it and assigned it to me in Equator while I was on the phone with her...so we are good to go...Would have been helpful 20 calls and faxes ago, for someone to have informed me of that tid bit of information...lol...at least it is done...
  • Jeff Payne July 29, 2011 at 8:57am
    Tell us how you did it :) 
  • Christina Conrad July 29, 2011 at 8:53am
    Issue resolved...would say thanks, but no one responded...lol
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