Service Release Error – False Alarm

Lately everyone in the mortgage industry is experiencing or has at least heard about that Bank Of America servicing releasing a large volume of their loans. All appearances show that Bank of America is doing everything they can to get out of the mortgage servicing industry. Bank Of America is even going as far as pre-maturely sending out service release notices to homeowners whose loans do end up not being service released. Short Sales have even been declined due to the pending service release only for the borrower/agent to find out that the loan never ended up being transferred. A service release error like this will set you back drastically as the short sale will have to be reworked from the start with the lender. Bank Of America is not the only mortgage servicer who is service releasing loans as pools are sold daily.

For assistance in trying to postpone a service release date or anything short sale related fill out the form below.

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