Short Sale - Bank Of America (agent, commission, contract, department)

[nsumner]

Does anyone here have a contact for the Loss Mitigation Department at Bank Of America. I am working on a file and I can't get anyone to call me back from the bank.

Thanks a bunch

[frostproof]

No one answers the phone at the Loss Mitigation Department at Homecomings Financial either. I have been trying to call about short sale. My house in Frostproof, Florida has not been sold.

[2bindenver]

http://www.city-data.com/forum/real-...eak-heart.html

[nsumner]

Originally Posted by frostproof

No one answers the phone at the Loss Mitigation Department at Homecomings Financial either. I have been trying to call about short sale. My house in Frostproof, Florida has not been sold.

Here's the number I have for Homecoming LM

800-206-2901 and 858-874-7417

Good luck.

[mgarb911]

Try and call 800 846 2222 collection dept may be able to help or call customer service 8777765842 and hit 0 and some can give you the number. The main office is out of new york for the loss mitt dept.

[ttyl1979]

My guess is that they have a company that services their loans. I had the same problem with Bank of New York. They use spservicing select. We'll... plainly put, they suck. The house has been bought back from the MC for 7 months. It's still not on the market and nothing is wrong with it, I had it listed, but was unable to get a contract in the 40 days that I had. Beautiful home in the $400 range which is a slightly higher range for my town. I've even had people try to buy it and they say nope not until it's on the market. It's no wonder properties sit forever. I would keep calling, try googling a different number, don't quit talking you will find someone to listen and they will put you in touch, if it's a "servicing" company I seriously wouldn't bother, they are a pain.

Good Luck!

[sassyhkm]

Good Luck with that. I have been waiting for ONE YEAR!!!! For Countrywide now Bank of America to complete my short sale and today found out that because I claimed Bankruptcy last month my transaction is on hold for another 2-3 months. I call weekly for updates and each week it's the same thing a new negotiator is assigned who never calls me back so "managers" escalate my file to order the BPO...the same one that was allegedly ordered on 12/20/2008! I'm so distraught. When I orginally called them for help because my commissions were few and far between they told me to get another job because it wasn't their fault. One year later I told them that I'm so upset to be potentially losing my buyer and only shot at a short sale which will likely cause it to go into foreclosure and sherrif sale...I said that this will make my credit even worse that I will have to wait 7 years to buy again vs. the 2 years for doing a short sale the customer service representative said "what did you think was going to happen to your credit when you filed Bankruptcy it's not our fault that it's wrecked"!!! I couldn't believe my ears. I'm an honest person who is a victim of the economy I was proactive about making things right finding someone to lease the place and then buyers and what do they do....lose my paperwork 3 times and completely blow me off!!! This is hands down the most unprofessional abomination of a company that I have ever dealt with!

[Norsky1]

Originally Posted by sassyhkm

Good Luck with that. I have been waiting for ONE YEAR!!!! For Countrywide now Bank of America to complete my short sale and today found out that because I claimed Bankruptcy last month my transaction is on hold for another 2-3 months. I call weekly for updates and each week it's the same thing a new negotiator is assigned who never calls me back so "managers" escalate my file to order the BPO...the same one that was allegedly ordered on 12/20/2008! I'm so distraught. When I orginally called them for help because my commissions were few and far between they told me to get another job because it wasn't their fault. One year later I told them that I'm so upset to be potentially losing my buyer and only shot at a short sale which will likely cause it to go into foreclosure and sherrif sale...I said that this will make my credit even worse that I will have to wait 7 years to buy again vs. the 2 years for doing a short sale the customer service representative said "what did you think was going to happen to your credit when you filed Bankruptcy it's not our fault that it's wrecked"!!! I couldn't believe my ears. I'm an honest person who is a victim of the economy I was proactive about making things right finding someone to lease the place and then buyers and what do they do....lose my paperwork 3 times and completely blow me off!!! This is hands down the most unprofessional abomination of a company that I have ever dealt with!

Do you not have a 3rd party short sale mitigator assigned to your file? I think that would help keeping everything in order.

[Brandon Hoffman]

I don't understand all the difficulty with these things. If the agent really understands the process it should be a matter of when, not if.

My advice is if you can't even get a phone for loss mitigation or short sales, which is really quite easy, means that in the best interest of your client you should pass that file off to a more capable short sales negotiator. Or if you are the seller, then hire an agent. The bank absorbs the commission as part of the loss, hire help. I closed 4 short sales I accepted last year, all within 60 days of getting an offer.

[sassyhkm]

Unfortunately my agent who calls herself a "short sale specialist" refers that aspect of the listing out to another person who charges a fee equivalent to 2 months of mortgage payments.....ahhhhh if I had that money I wouldn't be in the position that I'm in. 6 months of unemployment and a significant reduction in salary once re-hired has changed my life drastically.