Short sale denial
My seller has just been told she is ineligible for short sale by a BOA negotiator. Are there any options before I tell the buyer and pull my sign out of the ground?
Replies to This Discussion
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Permalink Reply by Smitty on
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Did you find out the reason why they are ineligible? I would start there.
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Permalink Reply by Kevin - Greenville, SC on
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Janet,
I can't tell you how many times I've been told by a Servicer that my client was not eligible for a Short Sale (insert reason here. I've heard quite a few) only to go to closing a few months later. I'm not going to take the word of one negotiator that the information they have provided me with is correct.
Find out the reason why and Escalate at the Servicer and/or Investor level.
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Permalink Reply by Jeff Payne on
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Kevin is spot on, escalate this one! Who is the investor?
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Permalink Reply by Janet P Riley on
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Bank of America.....
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Are you saying this is a Bank of America portfolio loan? If that is the case, you should be able to resolve easily through escalation, I would try @BofA_help on twitter first and foremost.
How did you find out that Bank of America is the investor?
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Permalink Reply by Brent Innocenzi on
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Never listen to the nonsense that negotiator's say. When in doubt, Escalate!
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Will do! Thanks for the advice everyone :)
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Good advice for sure. I tend to NOT take NO for an answer. If someone is telling you NO, that just means they have no authority to say YES and you need to find the person that can say YES
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