I am working on a FHA loan for Bank of America. The seller was going through a loan modification, which I find out she didn't properly complete. I was informed of this by the Account Manager, as well as her telling me because of the incomplete loan mod that she can't/won't give a Short Sale recommendation. I know with FHA they have the "cascade" that needs to happen before they will approve a Short Sale. Has anyone else had this situation? Will escalation make a difference? Thanks in advance for you input.
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Escalation will not help. The seller needs to speak directly with the CRM on file. ph :800-669-6650, the CRM will recommend the file for the short sale. Once that is done, you can continue.
Thank Javier.With me the CRM has flat out refused to give recomendation, even if loan mod is completed and denied. She said re-instating and foreclosure are the only options going forward. I can have the seller call maybe see if it helps. I am thinking I will have the loan mod closed out and see if I can get recommendation from the CRM or her supervisors. Thanks for your response.