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Bank of America - Countrywide

Posted by Barrett Thomas on August 10, 2009 at 1:46pm
BofA has cancelled my 2nd lien approval 2x so far. They said that the BPO was too high compared to the offer. They want a higher offer. My jaw dropped...they don't have any authority. Wellsfargo (1st Lient) has already approved the sales price and package 1.5 months ago. BofA is playing the game. We are also offering them over the original 10% which is $10,000 which Wells approved. Now it is at the 3rd negotiator and I'm hoping they don't kick it out again.
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Comments

  • Kathy Batterton September 21, 2009 at 2:25pm
    Man oh man, Paula. I don't want to do another short sale with BofA as the second. They are impossible! I've got the same kind of idiocy going on right now with them. Good luck.
  • Barrett Thomas August 11, 2009 at 4:52am
    There is no reason to challenge the BPO. Wells Fargo is the king in this transaction. If it goes to foreclosure. BofA will get nothing. I don't know why they are playing as if they have the upper hand. They should take their $10K and and call it a day. Their 2nd TD balance is only $54K.
  • Wendy Rulnick August 11, 2009 at 3:16am
    Paula - That is crazy.... Can you challenge the BPO?
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