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BAC foreclosure vs shortsale

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

Posted

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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Posted

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 additional facts in order to provide the best options. The submitter accepts the risk of relying on such an incomplete answer and waives any claims of damages for doing so. As stated in the answer the submitter should contact a qualified bankruptcy attorney is discuss these issues further before any action is taken. Any action taken without advise and counsel of a qualified attorney is inadvisable.

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