Short Sale Specialist Network

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Short Sale Closing Extensions are NOT easy with Bank of America HAFA

I have a HAFA short sale in Los Angeles area with Bank of America through AMS Servicing. I asked the original negotiator for 45 day escrow but they said that they could only give me 30 days to close. If I needed an extension, I would need to ask the closer later in escrow. We needed an extension for only a little over the 30 days. Long story short, I went back & forth with both AMS & the closer. After escalating, I finally get an extension letter from AMS on Equator. The buyer is ready to close, now all we need is the B of A closer to approve the settlement statement (HUD) for closing. After 2-3 days, I finally hear from the B of A closer, he tells me that AMS gave us an extension for a traditional short sale, not HAFA. So, he cannot approve for closing! Very frustrating.

Tags: america, ams, angeles, bank, hafa, los, of, sale, servicing, short

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Permalink Reply by Joe Beauchamp on October 28, 2011 at 1:09am

call office of the president or maybe tweet bofa_help. The office is more hit than miss in taking responsibility and I'm not sure about tweet except that you will get a fast response - in my case, I got a useless "corporate line", however, the person clearly had touched all bases. So, I don't know if they are slicker at blowing you off or my case was tougher. Hence, I cannot yet wholeheartedly recommend either - except that both should work at a level that you need - you need someone at the top helping with something like this in your timeframe.

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