Asked by Kathy, San Bernardino County, CA • Sat Jan 17, 2009
We are involved in a short sale on a preforeclosure. A superior offer was accepted over our offer and fell out of escrow 1 week before it was due to be advertised to go to trustee sale.A notice of rescission was filed at the county assessor sometime before or after it fell out of escrow.What other reasons for the notice of rescission of nod would there be besides the owner curing the default?Will the bank have to start the foreclosure process over from the beginning the full 121 days? With the payments possibly being caught up on the home won't there be less motivation for the bank to short sale it?We have been involved in this short sale for 6 months! Bank of America!! Some websites I go to make it sound like the prospective owners are calling the banks for the status of the short sale home they are trying to buy, bank of America will not discuss it with us without the owners permission even though the loan number and loan information is public information. Is this common? Thanks!!
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