I just read a great post Is BofA Servicing Your FNMA Short Sale? If So, You Need To Read This.... by Bob Hertzog which has fueled this post and is an example of another horror story with BOFA.
I have a BOFA short listed at the moment that is another type of horror story. My seller (brand new mom) was concerned on waiting to the very last moment to have to move out, due to her newborn addition to the family, she started to remove some of her furniture and belongings (unannounced to me). Keep in mind she is still paying gas, electricity, association fees(its a townhome) etc. and sometimes staying there, and sometimes not. I went to show the property, as I was walking towards the door, I noticed my lockbox looked different--the potential buyer is behind me--We are both trudging thru newly fallen knee-high snow and freezing temps---I am thinking am I crazy??--I am sure I used a SENTRI box on this property---I didn't even notice the good ole 'sticker posted on the window'. My sign is still up in the bedroom window, all the curtains are open, lights are on inside---a lot of the big furniture is gone, but very evident to the naked eye there is personal property in the unit.
I start calling her immediately to find out what the heck is going on? She is not EVEN CLOSE to the foreclosure date, so I am baffled. When I list short sales, one of the 1st things I mention is to NOT MOVE OUT, the bank will come in, take possession, and claim abandonment. There is still evidence of 'life' in this unit. We all know, or should know, when doing an occupancy check for the bank, we call utilities, water billing, HOA's etc. besides doing a visual inspection---so what has happened here? When I reach her, she has no idea what I am talking about---her curtains were closed, lights off, and she does have personal belongings in the house--she has been going back and forth, everything was fine a few days ago. The new baby was sick and in the hospital and she has been spending a lot of time there, and still working full time. I proceeded to call the number on the posted sticker on the window which is the basic number for BOFA---I get no where,.........and NOT fast!
She started calling BOFA and again like myself, got no where. Due to the circumstances, it takes her about a week to get to the property to see if she can get in. I told her to try her keys, the garage door opener, windows etc---As she is at her home, trying to get into her property, the police come by and ask what is going on. She explains what is happening, that she has not been foreclosed upon, and she cannot gain access to her property. They told her if she accesses the property they WILL arrest her (the sticker in the window states no trespassing). The next sentence is NOT the case but imagine that she just came home from the hospital with the new baby, and cannot get into her home---what then??? I am disgusted---I cannot imagine whoever did the occupancy check, didn't cover all the bases. I WILL find out and work on bringing charges with the real estate board---they could NOT see in the windows--they obviously did not call utilities, or the HOA, and had the rightful owner locked out of their own property.
As it stands, I cannot get in to show the property, she cannot get in to get her personal belongings, and the foreclosure inches closer and closer each day. We have both tried to get an attorney to take this on, but are still unsuccessful. The agent that did the occupancy check, will have forced this property into foreclosure---they were the beginning cause---you cannot sell something you cannot get into. But most of all, the reason for this post, make sure to tell your sellers, STAY PUT.......OR ELSE.
ADPR, FSSR, SRES (Accredited Foreclosure,
REO, + Short Sale Representative,
Listing + Selling NW Suburban Homes for over 20 Years!
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