I need some suggestions here on a post that I started last week regarding a last minute judgment. That post evolved into a discussion regarding RESPA, so I decided to repost and keep this conversation on topic:
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We have short sale (HAFA, non-FNMA) approval to expire on the 27th of this month.
The closing attorney JUST found a judgment on record at the courthouse (not discoverable thru normal channels). I am not worrying about fault at this point - just dealing with consequences.
Our BoA closer said that no one is able to pay this off and that it has to be resolved prior to closing. Yes, I know, I have heard this before.
The Buyer's agents are willing to contrinute to this, as am I.
My BoA negotiator is not returning EQ messages and never answers the phone. The BoA social media team has already contacted me and they are assisting in escalation - THANK YOU!
But, I need ideas to present to BoA in order to resolve this.
Many of you will say that others can contribute to junior liens or judgments in a HAFA SS, but the simple truth is that it is so daggum difficult to get the negotiators to see this.
Is there any creative way to Slip this thru on the HUD which would not require additional HAFA approval?
I thought about having the judgment as a cost to the Buyer, and then we agents can credit the Buyer for CC... but there is a 6% limit on Buyer contributions and we have already almost exceeded this.
Suggestions?
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