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Updated about 15 years ago on . Most recent reply

User Stats

41
Posts
4
Votes
David M.
  • Investor
  • Colton, CA
4
Votes |
41
Posts

Getting around B of A's 30 day hold

David M.
  • Investor
  • Colton, CA
Posted

Ok, so what happens if an investor closes on an A-B BofA short sale with one title company, and opens up the B-C sale with another title company...Does the B-C lender or title company need to see the short sale approval letter? Does BofA cloud the title on the new pre-lim to show a lein or restriction of some sort stating this property cannot transfer title for 30days? How will BofA know if it is re-sold within 30days?

Most Popular Reply

Account Closed
  • Transactional Lender
  • Portland, OR
6
Votes |
27
Posts
Account Closed
  • Transactional Lender
  • Portland, OR
Replied

We have been using our 3-45 day transactional funding to get around this issue.

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