Last Month Bank of America and the Equator system foreclosed around one of their own approved short sales?
Thats right! Approved a short sale then foreclosed. I might add the the fact they did not follow the proper notice of trustee sale protocol for Utah. The property has remained in the name of Seller to date. However we cannot process the buyer who was approved months ago now. (Taken off Equator) So this home just sits in limbo unattended, unoccupied, getting weeds and looking bad.
The banks are real good at calling past due homeowners daily. But just getting a short sale processed seems to be a real trauma for them. Again the mortgage monster is missing the connection between the left arm of loss mitigation and the right arm of the foreclosure department.
I seriously doubt halting foreclosures will fix this problem. We can only hope. The secondary investors must be scratching there heads?
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