I have closed over 50 short saleslast year - several even with BofA however there is one - just one that seems to be a nightmare FHA PFS deal that just wont go away.

January 2009 buyer found deal after 3 months of sellers trying to sell by owner and listing it elsewhere to no avail.

2/2009 contract date, submitted to BofA

after numerous calls, letters and emails...

finally got an appraisal done

months go by...

6/26/2009 letter of Approval to Participate in the PFS program with list price $58,000, min net of $51,040.

Offer sent in had net of $46,807 due to third party liens also on property (water softener)

months go by with numerous calls and attempts to renegotiate or get variance...

Owners move out due to health and no jobs - move to another city where they could find a job

We secure and clean up property... resubmit a new offer with net to lender BofA now $49900 which should have passed...

still no response...

December - a new negotiation assigned cancels the PFS program and says its too late they are foreclosing and offering on DIL

Jan. resubmitted package for 12 th time.

Feb. notice on door for foreclosure action pending...

this is insane... any ideas on who to talk to at HUD - there is a fraction of a difference in price - well less than the cost of the foreclosure action...