BAC foreclosure vs shortsale

Asked about 3 years ago - Manassas, VA

URGENT BAC allowed a forclosure sale to happen just one day after agreeing to let a local realtor conduct a shortsale of our home. We had already signed papers to allow the realtor to conduct said shortsale. Realtor is upset and confused and so are we what options do we have???So called new owner has put a 5 days notice in our mail box already...We live in Virginia.

Attorney answers (2)

  1. John Gerth Merna


    Contributor Level 15


    Lawyer agrees

    Answered . Unfortunately, you description of what transpired is not detailed enough to determine what recourse you may have against Bank of America. I think you were aware of the foreclosure sale approaching from your description. Bank of America did not need to authorize the "attempt" to short sell the property or advertise a short sale. So the question is did what ever "you say" Bank of America "agreed to" with regards to a short sale constitute a cancellation of the foreclosure or a "deceptive practice"? You need to contact an attorney versed in foreclosure law to review the details of the situation and advise you and you need to do it quickly. The new owner is not a party to the transaction with Bank of America. Therefore, if you have any chance of unwinding the sale prior to an eviction you will have to move quickly. If you intend to rely on the internet to address this then you should start packing. I wish you luck.

    This answer in no way creates an attorney-client relationship. The answer is not a complete answer and requires... more
  2. Gary D. Bollinger

    Contributor Level 19

    Answered . Obtain/preserve the paper work or other records signed/sent by BAC, you will need them for litigation.

    Get an atty.

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