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Final Approval from BOA needed to close

Real Estate

Hoboken, NJ

October 14, 2009

We have been working a short sale that the owners just came out of Chapt 7 a few months ago. Their are 4 liens on property. We have acceptances from 3 and all we need is BOA, the 1st lien holder to accept the offer to close. It has been reassigned to 4 seperate negotiateors in the course of 3 months. We are told we are now at level 2 with BOA. What the hell does that mean and more importantly how can we get them to issue us the approval ASAP?

Any suggestions would be greatly appreciated.

October 14, 2009

If you are at phase 2, the next phase is the closing dept. If you are having problems do not request to have it excelleraded they will put it with another negotiator and that can take up to 45 days. 7 to 10 for the negotiator to get it and then they have up to 30 days to review. If you have any changes to this file you better do it in phase 2 or it will be sent back or canceled when it gets to closing.

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