Beware the short sale....

[justbroke]

It is very sad that they lost the wire. I don't know what I would have done if my closing went any worse. I guess I would have started to pay the monthly mortgage again to protect my credit. It's just a mess and I can empathize with missing closing money!

[Faust]

I am sure if the seller could have afforded to pay the mortgage they wouldn't have had to short sell the house. That being the case I am sure they could not afford to pay rent and a mortgage payment.

This is a cautionary tale for those who short sell that things can come back years later that you thought were a done deal.

[tobee43]

I meant this thread to be about boa being a black hole of documentation and apparently now wire transfers.

Another thing is that boa is and has been continuing to report this mortgage to the credit agencies as delinquent for the past 18 months. That is something a title company cannot help with.

Too big to fail and too big to find your wire.

i understand what you're saying faust, however, i know i have entrusted title companies on numerous occasions to handle closings. i think this "short" sale business is indeed in deep muddy waters when it comes to protections of all involved.

i just don't get how someone from b o a wasn't present for the closing in this type of situation! i know many are done via mail etc. but one can't be too careful nowadays.

i do think these poor people need to get an atty especially if your company can provide a copy of the federal reserve reference number and go after boa...poor people!