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Bank of America & Fannie Mae

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Category: Business & Finances

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Arizona, United States

Bank of America & Fannie Mae Reviews

Jgrass May 5, 2010
Forclosure after short sale approval
I was short selling my home, I received an approval letter from Bank of America on March 5, 2010 that approved the short sale as long as closing took place before April 19, 2010. The buyers completed their inspections, obtained financing and signed all the appropriate closinf paperwork on arround April 12, 2010 the final settlement statement was sent to Bank of America for final review as requested in thier letter and the closing agent received notice from Bank of America that they had foreclosed on the property on April 7, 2010 and that they could not move forward with the short sale even though they had supplied a letter stating that the sale was approved as long as they received their funds by April 19, 2010. I have copies of all the letters and documents and I am learning this is a common practice oc Bank of America.

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