This particular Bank of America Short Sale was a referral
from a trusted friend who needed help. She owed more than the property worth
and needed to get out from under it. The first was with Bank of America and the second was with Greentree --
pretty standard fare. We had the usual back and forth with Greentree but
truth be told they were actually pretty great to work with on this deal. Never
thought I'd say that about Greentree but the truth is the truth.
Bank of America Short Sales are usually
pretty plain vanilla. We get the occasional one that throws us some curves but
usually we know what to expect. I know you see this coming -- this of course
was one of those Bank of America Short Sales that threw us a
curve.
We had jumped through
all the Bank of America Short Sale hoops for nearly
38 days and just as we were in line to get our approval the loan was
transferred to Ocwen. Now we had advanced notice this was happening so you know
we were all over this file from the start. We escalated every chance we got in
an effort to get the Bank of America Short Sale approved before
the transfer.
As luck would have it we
missed the deadline and the loan was transferred - ARGH! The transfer itself
takes a bit and then we have to start all over again with Ocwen. Knowing this
was coming we had the Ocwen package ready to go the day after the loan was
transferred. While it added about 30 days to the process we are happy to say we
received approval from Ocwen to close the Short Sale. Of course the Greentree approval
letter had expired by then but the folks at Greentree were
great to work with and sent us new letter within days of receiving the Ocwen
approval letter. As luck would have it this was a cash buyer and we closed
escrow 10 days after getting all the approvals.
All's well that ends
well. We helped another homeowner avoid foreclosure, there is a
new homeowner in the property instead of a vacant bank owned property, the
banks loss less money than if they foreclosed and everyone is happy. Feels good
to make the challenging ones work out. I have to admit it both Greentree and
Ocwen were great to work with.
Is a West Sacramento Short Sale Right for Me?
Call me and let's talk about your particular situation
To get a better idea of when your West
Sacramento 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 West Sacramento short sale information.
Call me today and sleep better tonight; you'll be glad you did
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