I have had a great experience with HomEQ during my negotiations of a short sale request. My phone calls were answered immediately, their files were up to date with all the paperwork I had faxed to them, the negotiators were courteous and helpful on the phone. They understood that the subject is located in a very active foreclosure and short sale subdivision so the discount was deep.
The short sale was approved today to close by July 18. That will be no problem on the buyer side since this is a cash offer. However, Bank of America the second mortgage had already approved the sale, but since HomEQ is taking a big hit they lowered the net to Bank of America. I contacted Bank of America immediately and to my surprise I have to send the entire file again for reviewing, a simple revised preliminary HUD was not good enough.
Now, I am trying to understand this- Lets continue to waste valuable time, paper and ink to receive the same information I sent you a month ago.
I hope I can get Bank of America to review quickly. Every time I would contact them before I had to wait 5 to 10 business days for the information to appear in their system.
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