Blog

I have had a cooperative short sale since November. It was going smoothly except for the poor communication, We had a buyer within a week of listing. We accepted all their terms even though they put the blame on others of why the file was losing the race against the tortoise. Blah..blah..blah..Fannie Mae...blah..blah..blah..This month I get "3-4 days and sending approval" with the usual nonsense attached to it. 

Then BLAME. Quote: We have received information that the buyer has withdrawn their offer on the property at XXX.  ACTION REQUIRED: Complete the 'Listing Data' task and continue marketing the property for a new offer. IF YOU HAVE ADDITIONAL QUESTIONS: Please contact M. SCHMIDT, your short sale specialist, by selecting the 'NEGOTIATOR' role in the Equator messaging system or call Short Sale Customer Care at 1.866.880.1232. Visit the Agent Resource Center at bankofamerica.com/realestateagent for short sale educational guides, news and additional resources. Do not reply to this message as this mailbox is not monitored: Unquote

HUH? I leave a ton of message on what is going on here?

I call and get back that the Cooperative has expired. Really what is it? Expired or you stating the buyer withdrew? Now I am advised that I have to start all over again and it has to be a traditional short sale. 

(Meaning: We let this thing hang on till it expired because we don't want to pay relocating fees anymore). '

I'm not going down without a fight on this. Now this is what is called unconstitutional.