This is odd....
I have in my hot little hands a notice from Bank of America that appears to have been sent out to title companies across the country, warning them of a short-sale scam on high-value properties.
The letter states that any approval letter purporting to have come from BAC that meets certain criteria should have both a notice asking for a verification call and provides an explicit response that should be given if the approval is authentic.
One has to wonder exactly what's going on here..... it would be rather interesting if some new set of scammers have figured out how to dupe title companies with allegedly-valid short-sale approvals that are in fact fictitious!
I don't think there would be much value in reproducing the letter verbatim, but this does point out that if you're involved as someone transacting in a short sale, as a seller or buyer, you need to be very careful. If the "approval" is in fact fake all sorts of very un-funny consequences could ensue up and down the line.
If you've heard of actual scams please post it up in the comment section!
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