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More Bank of America stupidity

Posted by Jeff Payne on November 9, 2009 at 8:39am in Short Sale Discussions
I recently got a BofA approval and the offer is more than the BPO, buyer lost his job and can not close. I have another buyer same day, BofA says that they can not assign a new buyer because it is in the closing department, WHAT? That is the dumbest thing I have ever heard. We have done this many times with BofA mainly because they take 6 months to approve and we don't need to start over. Check out this email..... Hello Jeff, Since the file is in the closing stages I am unable to make any changes to the current approval. I will deactivate the file and you can resubmit the offer. I have included instructions on how to resubmit. Thanks. Diana Barron MLO-Loan Svcs Specialist SHORT SALE CLOSING *** To initiate a short sale, please have the seller call 866-880-1232, supply their loan number(s) and email address requesting a Short Sale. This will enter them into the REOTrans system. ***

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Replies

  • Jeff Payne November 9, 2009 at 11:23am
    I just don't know when to quit and I won't go down without a fight! The old saying is that you cant fix stupid, but I am going to try :)
  • Wendy Rulnick November 9, 2009 at 10:18am
    That would be cool! I hope for you! I just had an approved one, but buyer walked three days ago. They wrote an offer on another property this weekend. I am praying the agent gets them back!


    Jeff Payne said:
    I just contacted a senior supervisor that has helped in the past........ I can tell that she tries and can still only get us so far, she asked for the offer and the HUD to see if she can get it approved without starting over.
  • Jeff Payne November 9, 2009 at 9:36am
    I just contacted a senior supervisor that has helped in the past........ I can tell that she tries and can still only get us so far, she asked for the offer and the HUD to see if she can get it approved without starting over.
  • Wendy Rulnick November 9, 2009 at 9:18am
    Jeff - Would anyone run their business like that? WHO WOULD? It loses money for everyone!! Inefficiency!!
This reply was deleted.
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