Help with a B of A Counter for a 2nd TD
Well in true Bank of America fashion, they have once again done something that amazed me. It shouldn't as I've told myself a million times not to be surprised by their ineptitude. Anyway we had an approved short sale back in November but due to the buyers lender taking a little longer than anticipated and my Bank of America negotiator being on vacation, we were not able to get an extension from the 1st and had to start over.
Anyway same buyer, same offer and we are finally hearing from B of A after sending them a revised approval for this go around from the 1st. The first is actually offering them more this time $5000 as opposed to $4300 and B of A now wants $10,000. Rediculous but anyway I need to counter them on Equator and need to do everything I can to make this work. They have all different costs on their counter sheet that are being paid for by 1st. Has anyone dealt with this counter offer from B of A as the 2nd?
Help!
Replies to This Discussion
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Permalink Reply by Bryant Tutas on
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Keith. Yes I have had BofA raise the amount of money they wanted from one buyer to the next. It could be that the loan is now in a different department. For example after a certain amount of time the loan goes from the short sale department to the recovery department. This is all related to how delinquent the loan is. Each department has different guidelines.
Fortunately in all cases I was able to get the 1st to increase their offer and the deals closed. None were done through Equator.
I hope you get it done. -
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Permalink Reply by Claudine Ellis on
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We had BOA as second and we ended up paying $2500. Worked it out the I paid $1000 and the buyer paid $1500. The investor didnt want to pay the entire $5000 to the PMI company which we didnt know existed. Gotta love it.
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