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bank of america judgment

Posted by Tony and Robin Pickett on November 11, 2013 at 4:36am in Short Sale Discussions

Help!  Situation is we have an fHA short sale with BoA.  The foreclosure process has progressed concurrent with the PFS processing.  ATP was issued.  Cant get the offer approved because they think a judgment needs to be cleared.  The referenced judbment is a result of their preforeclosure action.  Confusion is that the complaint to foreclosure shows Plaintiff as USBank (as trustee of mortgage pool).  Consequently, the judgment was in favor of USBank.  We see this all the time, but for some reason this negotiator doesn't understand the judbment is theirs and when they issue the short sale approval, it'll be cleared.  I have escalated it to a SVP who moved it to an escalation department who is asking for the very same thing.  Any ideas?  This has been going on for months with a full price cash offer!

 

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Replies

  • Wayne Brooks November 11, 2013 at 9:57am
    Kind of crazy that they can't figure out it's the same note they're shorting.
  • Wayne Brooks November 11, 2013 at 5:37am
    Suggestion, 1) Try to get a satisfaction recorded for the judgment, or 2) Get an opinion from the title company if the judgment would be included in the title insurance, and not an exception.
    • Tony and Robin Pickett > Wayne Brooks November 11, 2013 at 8:30am

      Hi Wayne, Thanks for the suggestions.  We can't get a satisfaction recorded because it won't be satisfied until we close on the subject short sale.  I have an opinion letter from title but Bank of America wants it worded it differently so I'm fussing with title to do so.  The stupid thing is that it IS Bank of America's judbment as a result of the foreclosure action for the subject property we are short selling.

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