West Sacramento Short Sale Information - Bank of America Serviced Released

West Sacramento Short Sale Specialist, Default Advocate, Distressed Property Expert and West Sacramento Short Sale Agent Mike Rigley here bringing you the latest West Sacramento Short Sale Information. Thank you for joining us. Today let’s talk about what happens when you get the message from Bank of America that your West Sacramento loan has been “Serviced Released”

“Serviced Released” that doesn’t sound so bad does it – or does it? Well if you are in the process of a West Sacramento Short Sale, depending where you are in the process it can be disastrous.

We all know that banks buy and sell servicing rights to each other all the time. It is a very common practice and it goers with the territory. We have had files sold in the early stages of the West Sacramento Short Sale forcing us to start over but as long as you are less than 20 or 30 days into the file you don’t lose too much time. For the most part if you are working a Bank of America Short Sale file and it is scheduled to be service released either the negotiator or customer service rep will tell you. If you are close to an approval and the file looks good the negotiator can request the file not be released giving you time to close the West Sacramento Short Sale

With all the activity with Bank of America selling the servicing rights as a West Sacramento Short Sale Specialist, it is imperative that you not only ask your negotiator but the customer service rep as well if the loan is scheduled to be sold. If the loan is scheduled to be sold and you are close or already have an approval you have to make sure you make a special request to hold the loan over. In most cases Bank of America will comply but occasionally they don’t. If they don’t and the loan is sold you will have to start the process at the beginning with a different lender. Our experience is it takes the new servicer several weeks just to get the file updated and moved into their systems. This can happen even if you have an approval so make sure your West Sacramento Short Sale Specialist is asking the right questions each time they follow up on the loan otherwise you could find yourself thinking you are ready to close only to be starting all the way back at the starting line.

Is a West Sacramento Short Sale Right for Me?

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