Short Sale success with Freddie Mac, BofA, BofA and UGI

As the title suggests, this was a loooong battle that included a lot of different moving parts. Yes, you read that correct, there was a BofA first servicing for Freddie Mac, a BofA home equity line and a mortgage insurance policy with UGI, against the BofA home equity loss. Wow my head hurts just writing that! OK, so the key to our success was perseverance. We continued to make calls and send emails to all necessary negotiators and managers on a regular basis and when they would not respond with the answer we needed, we escalated past them. This is a little more difficult because of Equator, but the twitter team is a great resource. This sale was started in January and finally closed April 30th, but before that it was denied in early March by Freddie Mac due to insufficient offer. We begged the buyer to raise their purchase price and they did, so we started over again and had an approval from Freddie Mac within 4 weeks. To our utter disgust, the insurance company (UGI) then denied it in early April, also due to insufficient offer. In their case it was not actually the offer, it was the amount of loss and lack of contribution from Freddie Mac. Since Freddie is that stubborn rich uncle we all love to hate, we avoided them and instead escalated to Sr. Management at BofA, demanding that they contact Sr. Management at UGI and negotiate an approval. When that did not happen, we simply sent an email to Sr. Management at BofA and cc'd Sr. Management at UGI, explaining that the two companies needed to come to a reasonable solution on the loss and issue an approval quickly. Since everyone involved could see each others email addresses, we revealed the wizard and eliminated all of the excuses they were making about not being able to reach a decision maker at UGI. In the end it worked because here we are 4 months later with a successful short sale, a happy client who avoided foreclosure and a happy new buyer. We are doing our part to help get this economy going again! Thank you Adam, you know who you are and congrats to Brad and Marti!