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VA Compromise Short Sale w/Bank of America

Posted by Lisa Rammacher on May 15, 2012 at 7:15am in Short Sale Discussions

Hi there,

 

I have a military client who is being transferred to Texas from VA next month.  I have a contract on his home to short sale - BOA is the servicing the loan.  BOA short sale dept. will not take my calls (because my client is active duty)  so they send me to the military department.  The military department cannot help me because they don't do short sales.  I am getting no where and need to get this done before the buyer walks due to time delays.  My client does not qualify for HAP unfortunately, they bought the house in 2007 and it is currently upside down by $100K.

Anyone go through this? Help?

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Replies

  • Wendy Rulnick May 15, 2012 at 10:27am

    Lisa - For a Bank of America VA Compromise Sale, you should FAX the contract, your listing agreement, seller financials, buyer pre-qualification and preliminary HUD to Bank of America at 866-808-5050. On the Fax Cover Sheet state it is for a VA Compromise Sale.  Give them a few days, then call 866-880-1232.  Ask them to assign the file to a VA negotiator.  I think the parties you were speaking with were confused.

    • Lisa Rammacher > Wendy Rulnick May 16, 2012 at 8:46am

      Thank you Wendy. I will do just that.  I also received a phone call from someone at BOA as a result of this forum.....awesome!  SO thankful for this website!!

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