Many of you have followed my blogs for a few weeks now regarding the many ways that BofA and their HAFA short sale team at AMS Servicing have managed to drag my short sale out for no less than 9 months nearly.
Finally after the 3rd extension, we were to close Aug 19th only to discover on Aug 18th that the BofA closing coordinator that was processing the final HUD accidentally closed the file. Yes, I said after 8 months, SHE CLOSED THE FILE!
Now, the problem with HAFA is you just can't push a button and reopen it. It is a complete start over.
Well if you don't think I lost it, this would be an understatement.
After phone calls all the way to the President's office in California, I finally was assigned the highest short sale escalation person at BofA.
She took this file on Thursday and that night and into Friday, we reopened the entire file into equator and went thru all the tasks over again. Together we spent most of Friday on the phone and she told me that because of the personal financial situation of the client, this client's only benefit from HAFA over traditional was the $3000 in relocation money.
In order for BofA to make amends for the closures blatant error, they made a deal with my client. They agreed to reduce the price by 10K to my buyers, and in exchange, my buyers would contribute the $3000 to the seller netting them an additional $7000 in savings in exchange for 2 more weeks and we would now do this as a traditional and she said we could completely do this from start to finish in 2 weeks.
Skeptical as you can believe, I did everything she asked and that was Monday Aug 22nd. Tonight, she called me to say the file was approved and tomorrow we should be able to schedule closing for next week.
YES FOLKS, I SAID FROM START TO FINISH in 4 business days!
Not that I am not grateful, but it just seems so rediculous that we had to be put thru such trauma and drama for 9 months to only get the RIGHT PERSON to do the job in just 4 days.
So ask yourself, why do short sales have to take so long? Answer, they don't with the right person.
Now that I have met this person, she is permanently in my speed dial and just know that all situations are not the same, but if you are experiencing financial hardship or you even think you may be a short sale candidate, please call me today and we can discuss your particular situation and help you thru these difficult times.
Kevin B Tolbert, PA, GRI, CDPE
Keller Williams Realty of the Treasure Coast
819 S Federal Hwy Ste 300
Stuart, FL 34994
Office: 772-419-0400
Direct: 772-834-0099
Email: kbtolbert@gmail.com
Website: www.Kevintolbertrealty.com
Website: www.SearchforSouthFloridaHome.Com
My Blog: http://activerain.com/blogs/kbtolbert
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