Suntrust negligent to buyers

We are actual buyers that put an offer on a house August 2009. We sold our house in three days and 6 weeks later moved into a rental thinking that we would only be there until November 30th, our closing date. Suntrust ordered the first BPO November 10th and our realtor was told by the negotiator we should know by December 8th. Then we waited...January 5th another BPO was ordered, arms length agreement, a couple weeks later another HUD statement and here we sit seven months since we made the offer on the house. We are about to blow through our third closing date and soon will not be elligible for the move up homebuyers credit (did I mention our rental is also for sale?) The stress is killing us. Suntrust response to the sellers realtor is "nothing yet"...."still nothing to report" as they won't talk to us. We are completly in the dark.

I want to know if they [Suntrust] have to comply to HAFA rules when April 1st rolls around and give us an answer in 10 days.

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Replies to This Discussion

Permalink Reply by Bob Wienk on March 10, 2010 at 4:38pm

If there is ANY plan that begins with the letter "H" then you already know it will not have any teeth. None of these are "rules", only guidelines, with no means of enforcement. So nobody really "has to" comply. Sorry, but that seems to be the common practice of our new administration.

Permalink Reply by Evelyn Broxterman on March 11, 2010 at 12:11am

Pamela,
Have your agent find out if the file is still in "set-up" with Suntrust. If that is the case, then no negotiator has been assigned. I have had files linger in this department for months.
Good Luck!

Permalink Reply by Pamela Best on March 12, 2010 at 11:15am

We have had two different negoitators assigned that I know of. We were told in February that it went to the investors which I was told were Fannie Mae. The thing is that we offer was a strong one only 32,000 less that what they originally borrowed on the house. I just don't see how Suntrust can turn it down by not replying.

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