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Comment by HENRY TRAN 31 minutes ago

My file has been with AMO (previously UTLS) for few months. Negotiator sent me final worksheet and I approved. 25 days since then nothing happens. I contact AMO & they gave me new negotiator's and his supervisor contact. I called and emailed them 3 times. No reply. I called AMO request for escalation and postpone trustee sale date on 2/14. They did send request for escalation but nothing happens. I requested them to give me contact for higher management level but they said that is all they can do. I called BOA Shortsale Depart. they sent me back to AMO. Do you hae any idea how to get it done ? Pls help. Thanks

Comment by Jennifer Mullen on January 30, 2012 at 7:50pm

It might help to have your HUD adjusted showing the payment to AMEX on it.  I've found jr liens are easier to work with when they have a HUD in hand. 

Comment by Elba Cox on January 30, 2012 at 5:58pm

Jason:

 

Thank you for your help. A few months ago Amex told seller they willsettle for $9k...seller had $7k..now seller only have $5k...but they want the complete $14k. Silly because if selle files for bk they will not get anything.

Comment by Phillip Roger Shaw on January 30, 2012 at 5:54pm

If the seller is located in California, recording a Homestead Exemption MIGHT resolve this issue for you... If you are not located in California, your state might have similar legislation for protecting homeowner equity.  Talk to the Title Company and possibly an attorney...

Comment by Jason M Halliday on January 30, 2012 at 5:50pm

Hey Elba,

unfortunately, you will have to get authorization to communicate with american express, but i would have your seller call them first to see if am ex is being represented by a law firm or collection company and then you will have to send authorization to them.  my experience with am ex is that they settle account at about 80% so the 14k may be very challenging to settle unless the seller files a bk and then you can get an order of avoidance.

warm regards, jason halliday remax. colorado

Comment by Elba Cox on January 30, 2012 at 5:44pm

please help...have an approved ss ready to close but have just pop up  $14,000 CREDIT CARD JUDGEMENT ON TITLTE FOR AMERCAN EXPRESS. Please share any informatio or phone number of a negotitor ta AMEX so we can settle this debt and close.

 

Thank you.

Comment by Mark Smith CDPE SFR on January 18, 2012 at 3:00pm

Lisa,

Ask the buyer to use their incentive to part the majority of closing costs.

Comment by Lisa Allen, CDPE, SFR, CSSG on January 18, 2012 at 2:45pm

Thanks Jason...BOA is saying that they will not allow any seller paid closing costs for the buyer (buyer asked for $4500 which is 3% of sales price). The only fees on the hud other than  commission and hafa incentive are less than $1000 total.

Comment by Jason M Halliday on January 18, 2012 at 2:32pm

Hey Lisa,

i know sometimes with fnma they will only allow 3% in all of your rass form closing costs (title, taxes, hoa etc) not including 3k hafa incentive and commission and will not allow additional concessions to buyer.  Generally, pending on the value of the bpo appraisal they may make a variance on the account and submit to fnma but it has to be above their minimum net.  you may have to get fnma involved as well if they will talk to you

Comment by Lisa Allen, CDPE, SFR, CSSG on January 18, 2012 at 1:05pm

Maggie, I had a similar situation...AMS only handles HAFA without an offer...the other BOA venders handle HAFA with an offer. Do you have the HAFA short sale agreement stating how long they have to sell the home? That would be your approval for the short sale...that is usually enough to postpone. I would contact BOA direclty (not AMS) and see if they can move the file to escalations.

Angela, do you have the number to the Office of the President for BOA?...I have another issue with them not paying closing costs on a HAFA approved deal.

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