short sale

Hello everybody ,I was about to get a short sale approval with Bank of America .The problem is the first is only offering $3,000.00 for the second.But the second wants $6,000.00. by the way both loans are with Bank of America So I told both of them that I will come up with $3,000.00 and I will disclose it in the HUD I but they said it's against Investors Guideline .so at this point I am just waiting for a response from them.the question is are they doing this so that they can just take over the property at the end .if this is the case we need to stand together and fight these banks .because most of the short sales that some of my friends have worked on did not approve and went on to be foreclose on .and later became Vacant and Vandalize.please someone answer me if you have an Idea of what they are thinking.

Replies

Jeff Payne January 14, 2011 at 9:18am

Even though they are both with BofA, you are most likely dealing with 2 different investors who have different guidelines. How much is the balance on the second? It might take a fight but you should be able to get this done. I do not believe that there is a conspiracy that BofA wants to take properties back. Keep fighting and stand your ground....

This reply was deleted.