There is a home that has been listed since Jan 09, later in 2009 became a short sale. There have been 4 short sale offers on this home, all of which went away for a number of reasons.
A qualified short sale offer was presented in early May, BoA countered, buyer matched BoA's counter offer and as of July 26, 2010 NO ANSWER from BoA, NO Approval Letter! Seller has not made a payment in over 14 months!
Recently a Title company said, Bank of America is foreclosing on almost ALL properties...short sales are not going through!
What is going on at BoA? Our tax dollars at work? I don't believe so! I have read many blogs and my suggestion to all agents...short sale by BoA...don't list it, don't spend your time until they figure it out. Their investors should FIRST decide what the bottom line is, a BPO could be done with an appraisal, then an Approval to Sell letter is prepared and ready to go as soon as a qualified buyer presents an offer! The house is not listed until BoA's DUCKS are in a row!