Short Sale Approved-Now BOA Wants to Change Servicers Before Closing

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Real Estate Broker/Owner with KTHOMES, LLC 100002367

My sellers and myself were so excited this week to learn that their short sale was approved (2 liens both with BOA).  Before we even got a chance to say "Woo Hoo!" my sellers received another notice from a different division within BOA that their 2nd lien was being transferred to a different servicer, which will happen before we are closed.  Has anyone had an experience like this and what was the outcome.  I cannot speak with BOA until Monday and not knowing how this will play out will drive me crazy by then.  I am thinking that the investor remains the same on the lien, even though the servicer may change so the short sale should remain approved, but I don't know.  Anyone out there?????? Help!

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Tags:
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short sale
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Rainer
202,614
Mary Macy
Top Agents Atlanta Metro - Roswell, GA
Top Agents Atlanta Metro

OMG, what a nightmare, aren't things that happen in these times just bizzare, sorry about all your problems on this account, it is hard enough without this.

Oct 21, 2011 04:52 PM #1
Ambassador
867,114
Janna Scharf
Keller Williams Realty Coeur d'Alene - Coeur d'Alene, ID
Coeur d'Alene Idaho Real Estate Expert

I'd laugh, but it's not really funny.  We were about to get an approval after months of wrangling, when the loan was transferred to a different servicer.  We had to resubmit EVERYTHING as if it was day one again!  That was 4 months ago...  SOMEBODY STOP THE MADNESS!

Oct 21, 2011 04:56 PM #2
Rainmaker
708,051
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Karen

If all else fails, go to BOA's Twitter and seek help there.

And now, they're on Facebook, too

http://social.bankofamerica.com/index.htm?subject=bofa_help

Oct 21, 2011 05:36 PM #3
Rainmaker
1,139,152
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Karen. If you already have the written approval for the 2nd lien chances are the new servicer will honor it. Contact them as soon as possible.

And as Pacitia pointed out the best place to escalate a BofA issue is on Twitter. Just message @BofA_help The BofA twitter team is awesome!!!

Oct 22, 2011 02:33 AM #4
Rainmaker
75,812
KAREN THOMPSON, GRI, REALTOR
KTHOMES, LLC - Frederick, CO
Colorado Homebuyer Pro

Thank you all so much for your suggestions.  I will try Twitter.

Oct 22, 2011 04:42 AM #5
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Rainmaker
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KAREN THOMPSON, GRI, REALTOR

Colorado Homebuyer Pro
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