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This is a bit of a long story but hoping for advice here:
I placed an offer on a short sale on June 6, 2013. It is in PA. It is being sold short by a divorcing (or divorced by now) couple who are using a paralegal to negotiate it. It only had one loan on it, at BoA so I thought it would take awhile but not as long as short sales with multiple liens and decided to go for it as I really loved the house (perfect layout, location, etc). I need to add as part of the agreement I am paying for this paralegal which will play into the information below. About a week after the agreement, we got the additional paperwork I needed to sign for the short sale (BoA standard agreements) and this was submitted to the paralegal, the one and only time I received correspondence from him. Since then, trying to get answers from the listing agent or the paralegal have proved impossible. I had a list of questions, the most important of which was the short sale fully initiated with BoA and did they send in the seller documentation. Again no answers until this week when I said I wanted to renegotiate the contract and cut the commission for the paralegal and the listing agent. All of a sudden I got something from the listing agent (through my agent) which basically stated yes it was initiated and they had the seller documentation but that BoA serviced released the mortgage to Residential Credit Solutions and that was why the paralegal wasn't getting back to me. The listing agent himself seems inexperienced as I asked was the short sale going to be traditional or HAFA and he responded he had no idea what that even was (which worries me). And the paralegal won't return my emails or calls.
So my questions are:
Has anybody done a short sale through RCS and what was the timeline like?
Is there a way to renegotiate the paralegal fee since I pay for him and he doesn't seem to want my questions directly?
We had given BoA two months to respond, so would RCS respond by that date - August 6 and if they don't do I need to walk away?
Thanks in advance for the advice.
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