I have a BOA short sale that's extended until tomorrow. We have short sale approval on both the first and second liens (both with BOA). We actually have an approval letter on the first and a verbal approval on the second. HOWEVER, the name of the property address is misspelled on the second lien (missing a "g) and we've been trying (unsuccessfully, of course) to have it corrected in BOA's mainframe system since August. We've forwarded the request for the change to their Customer Service Department (Customer Service has to do it) FOUR times along with a copy of the property tax card and USPS detail printout. On today, I was able to speak with someone in Customer Service (thanks to Anthony in Customer Care) who advised that they did receive the request and it has an estimated completion date of February 6, 2012!!! The problem is that the buyer is walking after today (of course) and the property will probably foreclose. I need contact information for someone at BOA (upper management preferably) who has enough sense to get this resolved before next year.
First suggestion is stop calling customer service and talk with your negotiator or their manager if necessary (it shouldn't be). Is the address correct on the approval letters? If so you really do not have a major problem so long as EQ is notated correctly by the negotiator then the closing officer can deal with this. If it is not correct contact which ever one the file is currently allocated to in EQ to have it corrected with a manual letter which takes 5 minutes - good luck.
Thanks for the advice! I've been contacting Customer Service because the Short Sale Department does not have the ability to update the mainframe. The problem is that the Security Deed on the 2nd has the street misspelled. I will check with my closing contact in EQ to see if we can get a manual letter while they work on the misspelling.
The original Title insurer would seem to be an appropriate recourse for deed issues? But that can all be dealt with later. Having a manual letter created is a 5 minute minute job but it does have to go through an internal process before it can be released to you. Closing officer should be able to pull this of for you. Good luck ;>)
I asked earlier today. Waiting on the Supervisor's Supervisor for response.
Wow, please post the contact for upper management if you get it. I wish you luck for tomorrow! Please let us know the results.
Hey Ginny! What a small world! I am the buyer for your Waterman Dr. short sale! I am currently a real estate agent here in Ct and was "poking" around looking at BofA comments about purchasing!! I have a lot of dominoes standing up waiting for confirmation of this sale and when closing can be. I am closing on my house end of next week! We have furniture going to storage, 4 people living in a 2 bed Marriott Suite, and an awesome quote of 3.99% interest I cannot afford to lose! How's everything going??? Lisa O'Connell Century21 AllPoints Realty.
Lisa, You are going to love Fredericksburg! I'm from Rochester, NY and the weather here is so much nicer (and still 4 seasons).
We are in the 2nd to last stage with BOA. I'm hoping to hear something soon but you know Fannie Mae does not move very quickly even when everything has been handed to them. I've attempted to use the Fannie Mae Helpdesk but our MLS service here does not participate so I only have BOA I can deal with.
Interest rates are awesome right now! I know a lot more buyers wish they could take advantage of thos!
I will try this again. I've spoken with several floor managers, team leaders, and vp's.
Its going to be a title issue . Get your title company involved.
I thought that the street name was misspelled on the Deed, but it's actually spelled correctly. I printed off a copy of the Deed and forwarded to the Closing Supervisor.
YAY drama over lol ;>p Enjoy the weekend :>)