Replies to This Discussion

Permalink Reply by Sameer Punjani on April 21, 2011 at 4:50am

If its fannie mae owned, send a tweet to @fanniemae you will get a call from their resource center. Bofa, ams loan servicing all suck and will continue to suck.

Good luck

Permalink Reply by Anna Boyd on April 21, 2011 at 4:52am

Not Fannie Mae.  I wish.

Permalink Reply by Wendy Smith on April 21, 2011 at 5:04am

does your state have a redemption period? or, a couple of years ago I had a similar situation where the bank foreclosed then did what they called a dry transfer ... they became the seller and ratified & closed the transaction.  it added about 4 weeks to the transaction but everything else stayed the same.

Permalink Reply by Deidre St. Romain on April 21, 2011 at 5:11am

You can always ask the listing agent to call the trustee - I've done this successfully in the past and gotten it postponed.  Good luck!

 

Permalink Reply by Maria Hass on April 21, 2011 at 5:26am

Hello Anna,

I feel for you. I went through the same "agony" 2days ago with BofA. I had an approval letter that could be extended only if the foreclosure date is postponed. Per negotiator, she instructed me to contact the closing officer to handle the sale date postponement which I did. This transaction worried me because the sale date was postponed many times before and the last extension request was denied before the approval letter came. So, I had my seller call Fannie, I emailed and left voicemails to the short sale Manager Mike Smith, the closing officer and negotiator. I sent an email to the CEO of Bank of America. None of this really worked. I was resigned to leave it upto to God to take care of this matter. On the DAY OF the sale, the negotiator contacts me first thing in the morning (like 7:30 a.m.) and says that the foreclosure date extension was granted for another 30 days.  At the end, I think it boils down to the negotiator who worked many  hours to get the approval. Also, once you have an approval letter, it is easier to get it postponed. Good luck!

Permalink Reply by Heather Robins on April 21, 2011 at 5:38am

Try calling the attorney, they are not at the mercy of the Trustee and a sale can be postponed up to a minute prior.  Have your negotiator call http://www.recontrustco.com, if they do your state they can call the Trustee and request a postponement as long as it comes from BofA, do you have a closer?  They seem to have more ability than the negotiator.  Also is the loan Fannie Mae or Freddie Mac?  If it is Freddie Mac then I have a guy at 1-904-218-0390 that can help request one but he only does Freddie Mac.  All worth trying, if you get anything from BofA that says they want the sale postponed you just need to bring that into the attorney's office, Most will verify it and help get it done.  I think BofA seems to be pushing there sales through right now and coming up with excuses..

Permalink Reply by Jim Hale on April 21, 2011 at 7:29am

Either BofA actually loves foreclosures....for some financial reason they don't want to talk to the world about....

or at the top of BofA no one is at home.

Permalink Reply by Anna Boyd on April 21, 2011 at 7:34am

Update - they cancelled sale half hour ago!  My client sent long detailed email to Brian Moynihan this morning.  I was emailing any previous good contact, plus a short sale escalation person and telling my tale of woe.  Don't know whether it was just in the cards with listing agent and her calls or anything we did - but it's cancelled.  What a nightmare.  My clients were just fit to be tied and stomach churning these last few days (and me along with them).

Permalink Reply by Maria Hass on April 21, 2011 at 7:48am

I'm sorry to hear that. It's hard when you are not in control. I feel bad for you and the buyers. But perhaps, your next one will go better.