Rescinding a Foreclosure Sale

We just lost a home to f/c today at 1:00 due to BOA telling the investor there was no offer.  The investor declined the f/c postponement, due to no offer.  The funny thing is, there was an offer, and it had been uploaded in Equator and the task completed for the same.  We asked BOA to renotify the investor that they were given incorrect information, but BOA didn't do it...we started requesting this on the 8th because that is when we found out what had happened.  Over 20 some emails and phone calls were placed between the 8th-11th...-0- response to emails and no where on phone calls.  Two of us were on the phone this morning from 8:00 a.m. to 12:00 p.m. trying to get this escalated to a higher power and absolutely got no where..unbelievable...I like the saying I was told the other day on this forum....Life is tough, but its even tougher if your stupid!!!  Wake up BOA...Good Grief!!  I will let you all know how the rescinding turns out..we have only had to do this one other time and we were successful...hope this works!

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Permalink Reply by Deidre St. Romain on August 11, 2011 at 9:44am
I have done it once with BOA - it was tough but they rescinded the sale - unfortunately it still showed up in the tax records as foreclosed on - my seller had to take her closing papers with her to buy another house two years later and then to the credit reporting agencies.  Good luck to you!!
Permalink Reply by Enrique Vasquez-Plaza on August 11, 2011 at 10:02am

Wow, what a drama my friend, 

 

Its so sad when that happens... REgarding rescinding sales, I have done that twice, with Chase only, never BofA.  Usually takes no less than 2 months (in my experience)  depending on 2 things:

  1. You can actually present evidence (not just talking) in an organized way to them and let them know if they don't resolve, they will be taken to court.  Have them open a research and they will eventually assigned someone.  (I have no idea what is BofA's procedure...)
  2. WHAT HAPPENED AT THE SALE? usually 2 things can happen: Property can be: a)Sold to Beneficiary (property gets back to bank or gets re-possessed, becomes an REO (much easy to overcome)  or b) gets sold to 3rd Party (this one is hard, because they have to go against the purchaser...)

You can still open equator and print evidence.  If file does not show, just go to BofA files and all will open (even past ones) Contact equator support if you have issues with that...

 

I will share with you a good contact in bank of america.  Write a good letter and sent it over to her.  Hopefully she replies.  I have contacted her once, and -despite she did not help me directly- because she is so way up there- the was able to referred me to A who instructed B, to have C find someone, who was actually D, the one who call me and help me.

 

She did not helped me to rescind a sale, but she is a High end executive at BofA SHORT SALES.  I first saw her at a CDPE conference.  And she is cool.

good luck:  I think is better to mention SSsuperstars...

 

from Dawson, Kimberly G [email protected]

 (an email to her will give you a different position I guess... she takes tome to reply, but she always does.)

Assistant:  Ann Dickerson at 972-526-3214.

 

Also: 

[email protected] ;

Kevin Glover

Short Sales / Wilmington, DE

w:  302.432.1592

bb: 302.332.0977

[email protected]

 

Good luck!

Permalink Reply by Christina Conrad on August 11, 2011 at 10:32am
Thanks for all of that information..very  much appreciated..I don't know what happened at the sale yet, because the law firm has not returned my phone call..

Enrique Vasquez-Plaza said:

Wow, what a drama my friend, 

 

Its so sad when that happens... REgarding rescinding sales, I have done that twice, with Chase only, never BofA.  Usually takes no less than 2 months (in my experience)  depending on 2 things:

  1. You can actually present evidence (not just talking) in an organized way to them and let them know if they don't resolve, they will be taken to court.  Have them open a research and they will eventually assigned someone.  (I have no idea what is BofA's procedure...)
  2. WHAT HAPPENED AT THE SALE? usually 2 things can happen: Property can be: a)Sold to Beneficiary (property gets back to bank or gets re-possessed, becomes an REO (much easy to overcome)  or b) gets sold to 3rd Party (this one is hard, because they have to go against the purchaser...)

You can still open equator and print evidence.  If file does not show, just go to BofA files and all will open (even past ones) Contact equator support if you have issues with that...

 

I will share with you a good contact in bank of america.  Write a good letter and sent it over to her.  Hopefully she replies.  I have contacted her once, and -despite she did not help me directly- because she is so way up there- the was able to referred me to A who instructed B, to have C find someone, who was actually D, the one who call me and help me.

 

She did not helped me to rescind a sale, but she is a High end executive at BofA SHORT SALES.  I first saw her at a CDPE conference.  And she is cool.

good luck:  I think is better to mention SSsuperstars...

 

from Dawson, Kimberly G [email protected]

 (an email to her will give you a different position I guess... she takes tome to reply, but she always does.)

Assistant:  Ann Dickerson at 972-526-3214.

 

Also: 

[email protected] ;

Kevin Glover

Short Sales / Wilmington, DE

w:  302.432.1592

bb: 302.332.0977

[email protected]

 

Good luck!

Permalink Reply by Richard on August 11, 2011 at 10:37am

Hi again Christina,

 

Waht a blow to a team and the seller.  This is the very reason why the lenders names are mentioned in the news daily.  Bad news, that is.  It almost appear that there's hardly any positive association with these organizations.  They take one step forward, just to take two steps backward.   

 

You know, it's a good thing it wasn't a criminal on death row, you'd hate to be waiting for a call from the governor with those guys.

Permalink Reply by Christina Conrad on August 11, 2011 at 10:55am
Amen!

Richard said:

Hi again Christina,

 

Waht a blow to a team and the seller.  This is the very reason why the lenders names are mentioned in the news daily.  Bad news, that is.  It almost appear that there's hardly any positive association with these organizations.  They take one step forward, just to take two steps backward.   

 

You know, it's a good thing it wasn't a criminal on death row, you'd hate to be waiting for a call from the governor with those guys.

Permalink Reply by Bryant Tutas on August 14, 2011 at 1:18am
In the newsletter today
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Permalink Reply by Jerry Wing on August 15, 2011 at 3:33am

This happened to me once.  I had the Attorney contact the Clerk of Court to let them know that the bank would be resending the foreclosure.  Believe me, this was not easy, but you gotta do what you gotta do.  Hope you get the right person @ BOA.  My contact is Billy Selman who was the supervisor of all negotiatiators.  Try him as he sometimes answers the phone.

If you need more information send me an email. Good luck.

Permalink Reply by Enrique Vasquez-Plaza on August 15, 2011 at 4:31pm

Any progress Christina? 

 

Whatever has to do with showing BOFA execs how other BOFA employees  messed up, and how this could be avoided in the first place, and finally how happy we can all be happy after all this is fixed in a proactive manner and eventually resulting in a better handling of cases for ourselves Realtors, totally makes my day!

 

 

 

Permalink Reply by Christina Conrad on August 15, 2011 at 4:51pm
So far no progress.  Will keep you all posted.
Permalink Reply by Christina Conrad on August 16, 2011 at 3:19am
Does anyone have a very, very, very good high up contact at BOA..I am getting no where..they keep telling me they cannot rescind the f/c because Missouri is a re-start state...what does that have to do with rescinding a f/c...NEED HELP..NEED GOOD CONTACT...
Permalink Reply by Christina Conrad on August 17, 2011 at 6:42am
Just wanted to give you guys an update...we escalated as far up as we could go...the bottom line is they are unwilling to admit that an error occurred on their end, even though we have the documentation in Equator to support that fact.  We asked them on how to avoid this in the future and got no where...we tried our best but, no go on the rescinding of the f/c.

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