My Wachovia Fast Track Short Sale was foreclosed on 8/10/10 with an accepted offer in place and with Wachovia saying in writing they would not do that. Wells issued a directive to change the rules in the middle of the game. The selling agent and myself are out commissions. Happen to you? Email me ..Henry Weiss kcbs2@yahoo.com

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Happened to my business partner and myself with BOA. WE notified them of the Courthouse sale and asked that it be taken off the courthouse steps 2 weeks prior to the sale date. Was told, not a problem -contract in place and 4 weeks to closing. Closing was scheduled 1 week after the courthouse sale was to take place.

Oops, sold on courthouse steps. Called person that was supposed to take it off courthouse sale, whom at that time said "Oh, I forgot. I was too busy with other things and you know I am new and have only been here a month." WHAT. Naturally that was after the courthouse sale. Now new person says, oh, I can't do anything, you have to talk to the REO department.

Florida has a 10 day redemption period. Called her several times and her story is, there is nothing I can do about it. We've told her, wrong, BOA owns the home and can do anything they want. We've had other banks take it from the REO department within the redemption period and put it back to the short sale department. Was sent back to short sale depatment today, after many phone calls and speaking to different people. Told all of them, if the departmenst would communicate they would have way less REO's and many more succesful short sale. Late this evening we received a binder release and withdrawal of the offer.. We've pulled this off the courthouse steps no less than 7 times, have had it listed for over 735 days, have gone through 8 buyers to have BOA do this? Posting this has given me an idea of contacting the media to let the public know. Any comments to this?

I really don't care that this person is new - only 1 month. What happend to accountability? What happened to common sense? What happened to doing your job? What happened to consulting your supervisor or their supervisor if they don't know.
Sharon, I would have gone to the judge and tried to get the judge to reverse the sale. Once the lender has taken possession of the asset their probably NOT going to reverse the sale. One of ours got reversed last month due to error and the judge gave FOUR MONTHS!
I am going to see if this is still possible. Thanks.
I feel your stress! Why don't these banks have a clue?
Have a clue what the next department is promising or even doing?
Have a clue that what they say one day has a huge affect on the owner/family? That these families are counting on their “empty department” promises.
It affects us agents too, because we bust our butt to get these things done by the banks schedule only to find out that the "other department" isn't cooperating or worse, doesn't even know! And we, the agents, are left to deal with the Owners face to face…
These families are already going through enough! Who cares whose fault it is NOW (the bank for giving the loan or the consumer for taking it)... It is what it is and we can debate that for years to come. We just have to adjust and do what we can to help correct the problem as a whole.
Why don't they realize that instead of helping, they are actually hurting!
I have had and heard too many scenarios where the bank say "yes we'll give you time to do a short sale" then a week or two later the Notice is on the door!
COMUNICATION!!! How hard is that?
Do they want to fix this or not?
With technology as sophisticated as it is, you’re telling me they can’t hook their computers up so one department sees the same thing the other does? They are using the internet right?
We can all post on Face Book and EVERYONE has access and can see your comments, but the banks don’t have those capabilities…???
Maybe they should just communicate and post through FB… At least then we’d all see the same thing! LOL

Sorry for my angry tone, just read your posts and felt your frustration!

Best of Luck to YOU!
Wachovia did the same on a property. The short sales was almost approved and they decided that the market value was higher not considering it was a fixer upper.

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