FHA Short sales are always a challenge, more so than other short sales I have come across. I didn't realize what a challenge they would be when I combined the FHA short sale with Bank of America as the servicer. Back in April of 2012, I thought I had hit the jackpot after having 3 offers come in on my 3 FHA short sale listings.
Little did I know that I would be spending the majority of my time on these 3 files for almost a year. I was able to get one of them to the closing table in late November. Down to 2 my frustration level has skyrocketed as I try in vain to get updates from my short sale negotiator.
I think I would have better luck pulling a molar from a saber tooth tiger than getting a response from my assigned negotiator. I could name names but i am sure she knows who she is. Despite my high hopes when I submitted my 3rd buyer after finding out that buyer #2 was walking, when she actually called me and I was able to speak with her on one of our rare communications I have not heard a word from her since!
It appears that the only way I can get any movement on my file is to escalate4 through the short sale help desk, and/or the Twitter Social Media team. I have even escalated to Hud's National Servicing Center! Today I have done both plus added this blog to my arsenal. Will it help or hurt my chances of getting an approval...who knows?
Bank of America was bailed out by the taxpayer and despite that they continue to ignore homeowners when it comes to loan modifications and short sales. I am even considered a "preferred Realtor" with them and a whole lot of nothing comes with that honor.
I can't even find a word in the English or Spanish language to describe my level of frustration!