Tips for Quick Restart to BoA Short Sale Canceled in Error?
I am a buyer on a downtown Chicago short sale owned by Freddie Mac, but serviced by BoA.
After our files were accepted July 1, BoA approved our purchase price Sept 1 which is 2.5% over the BPO. September 10, shortly after BoA foreclosed on the property, they transferred the short sale file to a new agent, who then for some reason ordered a new BPO that inexplicably took two months to complete. A week after the new BPO was completed, the file was closed for "non-response". It took tweeting to BoA of all things to get an explanation of why there was a "non-response", even though there were no messages in Equator for the seller to respond to. The BoA agent now says that was actually a computer error, but we have had to submit a new file.
Are there tips on making this go faster? Is there a way to get a smarter/faster-working person to run the file?
After our files were accepted July 1, BoA approved our purchase price Sept 1 which is 2.5% over the BPO. September 10, shortly after BoA foreclosed on the property, they transferred the short sale file to a new agent, who then for some reason ordered a new BPO that inexplicably took two months to complete. A week after the new BPO was completed, the file was closed for "non-response". It took tweeting to BoA of all things to get an explanation of why there was a "non-response", even though there were no messages in Equator for the seller to respond to. The BoA agent now says that was actually a computer error, but we have had to submit a new file.
Are there tips on making this go faster? Is there a way to get a smarter/faster-working person to run the file?
Replies to This Discussion
-
Permalink Reply by Wendy Rulnick on
-
Is this property now bank owned, i.e. a foreclosure or "REO", no longer a short sale?
-
Permalink Reply by Short Sale Superstars LLC on
-
Ryan,
Is this still a short sale or is this now a REO?
The only way to get a file with Bank of America to move quicker is to escalate the file if the negotiator is not moving within their proper time frames. You can reach out to the presidential office or try to speak to the negotiators supervisor or manager. Typically we just send an email to one of our escalation contacts to reach out to the negotiators supervisor to instruct them to work the file or at times they will even go as far as assigning themselves to the file to work it.
310-564-6398
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons