Short Sale or Deed In Lieu with Bank of America?

Generally to get a Deed In Lieu, the property has to have been listed for sale for at least 4 months.

We are in the same boat. They keep postponing our sale every 20 days. They say we need the house for sale for 3 months, but still keep scheduling the auction every 20 days then cancel and reapply for an auction date. (No way we are going to get a realtor when they are filing to auction it every 20 days) Pretty sneaky on their part and bogus. Looking for others out there that are having Bank of America play this same bogus game. I still do not believe that they would do a deed in lieu even if you played this silly game. My experience is they can not keep track of any paper work and every time you call you get a call center drone that reads from a script and transfer you until you get lost in the call center black hole.

We are in a similar place with B of A
They asked us to list the property for 90 days then they would do the Deed in Lieu. Now we have called every couple days to see what's going on and they give us the run around and say they can't do the DIL due to some "codes" on our mortgage in their computer system. Then finally after 2 weeks of calling they say we need to re-list it. And we already packed our stuff just in case. Now what?

Bank of america approved my DIL. The process went by fairly fast as well. The guy ,allan, handling it was quite responsive. The one issue I have is even after they accept a DIL, they will consent to a release of the debt. Meaning, the Investor can still sue for the difference in what I owe from what it sells for.

I have an FHA loan. I am out of work and cann't make my payments. I the bank forcloses can I be sued for the loan?

I feel your pain, all of you. I was fortunate enough to find a company that is legitimate. Now I know that the banks the news and government say we shouldn’t go to any company that charges, that the banks will modify your loans for free. Well, how many of us on here have had our loans modified by the banks?

A lot have lost their homes, and lot more still will unless you do what’s necessary to save your homes from the banks. I went through what most of you have, I was there. Then I was referred.

I know I would have lost it to Wachovia if it wasn’t for him and the rest of the people who work there. Got me caught up on my mortgage 1st & 2nd, lowered my interested rate & payment.

Before anyone else on here loses their homes you need to give them a call. Don’t be afraid of hiring a loan modification company, be afraid of the banks, they are the ones who are taking our homes!

I know they get the job done. News and TV made me afraid to even consider a loan modification company because they are all scams and my lender will do it for free (wrong). There hasn't been not one story about a good company and when I tried to contact my local news channel they told me that my success story wasn't news (What!)

So, I am making it my mission to spread the word on this GREAT company!

I HAVE SUBMITTED MY LETTER TO BOA REQUESTING A DEED IN LIEU OF FORECLOSURE. (I HAVE A REVERSE MORTGAGE WITH BOA)
I HAVEN'T HEARD BACK FROM THEM YET (IT'S ONLY BEEN SEND A FEW DAYS AGO),

MY QUESTION IS, CAN I STILL TRY A SHORT SALE WHILE THE DEED IN LIEU HAS BEEN REQUESTED? (MY HOUSE HAS BEEN ON THE MARKET TEN MONTHS BUT IS NOW UNLISTED.

WE Did a deed in lieu with boa it went well took awhile but worth the time. u have to stay on top of it though.