I know I am not alone with having issues with Bank of America and their processing of FHA Short Sales. Realtor forums across the internet from Linkin to Short Sale Superstars and our own Active Rain have hundreds of blogs on this subject.
I am in the 10th month and my 3rd buyer on my FHA Short Sale with Bank of America. After surviving the "waterfall", the denial of another loan modification despite the fact that the homeowenr had been denied several other times, to finally getting the Approval to Particiapte I have gone through each phase. The various assigned Phase 1, Phase II and whatever Phase they claimed the file was in.
But you finally hit a wall - you can only submit the same papers so many times before you just have to wonder - WHY ALL THE DELAYS??? Is this file being sold so they just want to delay approval so it can get sold? Is this an issue with a negotiator flexing her sense of power over those that have no choice but to follow whatever requirements she throws?
Despite escalting through Hud's National Servicing Center, despite twittering every couple of weeks to get some action on the file, the request of not being able to read this document or this other, wanting this line on the Hud-1 changed to read this way and that date needs to be changed because - Oh, the extension was only for this time and I didn't tell you why it has to read this way...I have hit a wall.
If I use twitter the negotiator will respond only to tell me I need to submit this or change that and another week will go by after I submit whatever she asks for before its reviewed or acknowledge and meanwhile the clock keeps ticking on the file. Without the official short sale the buyer can't start their mortgage process, and it appears that even with an actual approval letter Bank of America can still pull some other tricks up its sleeve.