My New Blog

Anybody interested how Short Sale negotiations work with banks?

There is one bank that takes years out of my life...PAIN. It is Bank of America ( loan used to be with Countrywide). I will make a little journal and every time there is something to write about this one particular deal I will write new post.

It started last year in April. I got offer on Property. I got all financials from my seller and submitted everything needed to bank. To make long story short, in September bank canceled this Short Sale deal because negotiator didn't receive all paperwork he needed from my seller ( not true but ....). I had to resubmit everything again and I did. Bank finally got everything in October and .......nothing happened until January. In January they assigned negotiator who didn't do anything for a month so they reassigned file to somebody else in February. Again...nothing was happening for a month. I made phone calls, I e-mailed negotiator, there was no response. Las week during one of the phone calls I found out that file was closed again and customer service representative couldn't tell me what was the reason. After e-mail to negotiator and negotiator's Manager I found out negotiator had wrong e-mail address of mine ( his mistake , because he should have gotten correct e-mail when I he was receiving e-mails from me)  and when he e-maild me with request for updated seller's documentation and didn't receive those from me within one week, he canceled file. He admitted it was his mistake but today I found out he will not reopen file and I have to start process all over again. I know it will take again at least 6 months, so I want to cry my eyes out but that unfortunately will not help. I am trying one more thing to reopen this file. If it doesn't work I will have to resubmit ( if buyer will wait).       


Posted by Anna Chroscicki on March 15th, 2010 8:40 PM

Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

Re/Max Masterpiece 1775 SW Gatlin Blvd Ste #101 Port Saint Lucie ,Port St Lucie, FL 34953
Phone: Cell: Fax:

Why avoid foreclosure- seller | St Lucie County Appraiser | City of Port Saint Lucie gov | Links | St Lucie County Public Schools | St Lucie Chamber of Commerce | About St Lucie County | Active Rain | Search Market | Looking to Buy? | Looking to Sell? | Featured Homes | Home | Search Properties | Site Map | Calculators | My Blog

Copyright © 2012 Re/Max Masterpiece
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.