Bank of america is selling loans to other servicers. They are selling loans that are in the process of loan modification and short sales. In the case of short sales what happens? Does the new lender honor the short sale? It depends. Will it delay the short sale? In most cases yes it will. If for no other reason than it will take the new lender a minute just to get your file and paperwork. Is this really happening a lot? Well I have had 3 in the last 15 to 25 days.
Home Value Leads - Highland Park, TX
Active Agent and Co-founder Of Home Value Leads
The ethics of a corporation astound me. How can the be actively negotiating all of these things, knowing full well that the loan will sell and it will be a waste of their time and ours? Absolutely preposterous, deceitful, and shameful of BofA.
Jan 15, 2013 08:12 AM
keller williams vip properties - Valencia, CA
Yeah I agree, but it is what it is and we must adapt and prepare our clients.
Jan 15, 2013 10:45 AM
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