Bank of America RELENTLESSLY pushes a completely unfitting loan modification and FAILS – A SHORT SALE SUCCESS STORY

Back in May – I listed a new CT short sale for sale -  a single lien Bank of America FHA loan. Within days we secured a very strong buyer and a complete short sale package headed to the lender.

After reviewing the sellers documentation, Bank of America immediately refused to process for a short sale as they determined the sellers should be in a loan modification instead.

HUH? The seller is RELOCATING FOR EMPLOYMENT. Relocation and loan modification don’t belong in the same sentence.

The package was resubmitted with a very clear explanation for why a loan modification would not be the answer to my relocating sellers problems. We were promised this would go straight to short sale and my sellers would not be harassed for a loan mod.

WRONG!!! What followed were daily calls to my seller for WEEKS with pushes for a loan mod, which did not relent despite my sellers repeated requests to not be contacted for a loan mod. I am surprised they didn’t show up at her door, as this has happened to other clients. They did though:

• Send her a package for the loan modification she had “agreed to”..NOT TRUE
• Go so far as to tell my seller that her request for a short sale could only be processed AFTER SHE HAD BEEN APPROVED FOR A LOAN MODIFICATION – ANOTHER COMPLETE LIE.

It took WEEKS before Bank of America finally agreed to give up their loan modification quest.

It only took a few short weeks thereafter for her short sale to be approved…and a few more for her SHORT SALE TO CLOSE.

Thank you Bank of America for wasting a bunch of everyones time on your failed efforts to push a loan mod down my clients throat. Why do you do this? Not quite sure but here's an idea.

Just say no when a loan mod ain’t right! But say it LOUD AND CLEAR if Bank of America is on the other side of the line!