BiggerPockets

Hello Randal,
I was on another site and read similar stories about BOA, so I started digging.

I found contact info for a Senior VP in Loss Mitigation in NC if that helps you.

Here it is:
Joseph Fuszard's # 704 386-4771
Bank Of America Corp Ctr 100 North Tryon Street
Charlotte, NC 28255-0001

Good Luck!

Barry

Did the loan orginate with Countrywide or BOA? It makes a difference on where you fax it in.

I have run into these problems lately. They seem to stem from loan mods and with CW originations.

If the seller started a loan modification, then the the loss mitigators handling short sales will not be able to access the ATR or the SS package. If it is a CW origination, then call the customer service rep and have them send an e-mail to a loan modification rep to remove the flag in their system.

Then, your SS package will be able to be seen by the short sale department personnel.

This flag was used to avoid redundancy where some people were doing both a short sale and a loan mod simultaneously taking up twice the lender's resources.

Good Luck.

Here is about the only thing I have to say about BofA and/or CW. They do not know what their own departments are doing. Do not get frustrated! Remember: you could be doing a job you hate. But you CHOSE to do this, enjoy it as much as you can.

Have fun!
James

This is not even 1% of the aggravation you will have with dealing with Bofa. I have 4 short sales deals with them. Some approaching 1 year. When your offer is declined, your file is closed. You have to call and ask to be re opened. From there you will have to wait 15 business days for a mitigator to be assigned. But that does not happen.

After a mitigator is assigned he has 15 business days to look at your file. He won't do that no matter how much you email him and call him. Then you have to call the Short Sales Department and ask the file to be escalated. This means that someone will send your mitigator an email and ask him to take a look at your file. Chances are he won't look at your file. Then you will need to call Short Sales and ask the file to be escalated the second time. 15 more business days. He will probably take a look at it now.

Here is the kick, from the time he finally takes a look at your package he now has 30 business days to see if qualifies, if it does he will kick the file to the 2nd level mitigator.

Another 15 business days for the 2nd level to approves. If he approves the file will go to the closer and you might close in a few days.

That is Bofa for you. What a mess.

I am on another real estate forum.
where a realtor in my area posted having problems with BofA.
She got the name of the sr. VP
with short sale dept. she cc's him on all correspondence. She hears back the next day!

if interested, contact me directly and I'll send you the information, rather than posting here on this forum.

Jackie

[EMAIL REMOVED]

p.s. with the stipulation that I not reveal
the source of this contact

BofA just required us to change both sides of the contracts on an investor deal from an LLC to an individuals name. Anyone with experience or comments on this?

Ted I haven't had them ask me to change names directly, just that they wouldn't pay any closing costs if the buyer was an LLC, only if it were an individual buying. I'm absolutely done with BOA.