Woodland Short Sale Information - Bank of America Foreclosure

Mike Rigley Certified Default Advocate, Distressed Property Expert and your short sale specialist here thank you for joining us. Today let’s talk about a Bank of America set back we had recently.

Guys, those who have been following us for a while that it is rare when we lose a Woodland short sale to foreclosure. Truth be told our approval success rate is well over 95% but every now and again one gets away from us. We had that happen this week. Why would I bring up a negative in these posts – because as a Default Advocate it is about the truth pure and simple.

So here’s what happened. We took on a short sale with less than 20 days to the foreclosure sale date. We quickly got an offer and submitted the short sale package to Bank of America. Our offer was close enough that Bank of America postponed the foreclosure sale date for 30 days. During that 30 days and roughly 3 weeks until the next foreclosure date, Bank of America countered our offer to a higher price and modified the counter offer terms slightly. We quickly responded accepting their counter offer and requested another postponement giving us time to get the investor approval and close the escrow.

Well we started the requests 14 days prior to the sale date and followed up religiously. Come the day before the sale the foreclosure still had not been postponed. We escalated the file because the negotiator would not respond. As we worked through the process and by the admission of our escalation contact Bank of America screwed up. The negotiator never requested the postponement even though on all our follow up calls & messages she said she did. Basically she lied to us. As it turned out the property was sold on the court house steps to a third party making getting the sale reversed nearly impossible.

We are human and 95% plus approval rating is not 100%. Just when you think the banks have stopped lying you find a bad apple like this one. It’s not Bank of America’s fault – or maybe it is because she worked for Bank of America, but it still comes down to people. I wonder if that dishonest negotiator fully realizes the harm their dishonestly has caused…

Is a Woodland Short Sale Right for Me?

To get a better idea of when your Woodland home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest Woodland short sale information. Call me today and sleep better tonight; you’ll be glad you did