Balloon Payment Due Years After Short Sale


LoanSafe Member
Hello All,

I successfully completed a short sale back in 2014 (or so I think). Both loans were BofA and the first was eventually transferred to SLS while BofA kept the 2nd. Short sale was completed in 9/2014 but fast forward to 10/2017 and while checking my credit reports it shows I have a balloon payment due 6/1/2022 on the second. I called up the bureau and they said call of BofA so I did. First rep said; no balance no payment due, we'll get it corrected and send a letter to all 3 bureaus and it'll take anywhere from 30-60 days for bureau's to update the status, however let me transfer you to foreclosure dept. After being transferred 8 times I finally got rep #3, she was nice enough to a conference call with a Foreclosure rep who also said I had no balance and that the account was closed. Now I'm really nervous because from what I just read on the forum from a couple of other threads is that BofA doesn't forgive which makes me scared that they'll want payment on 6/1/2022 on what they call Balloon Payment. Prior to this I received no notifications that anything was due or that any balance was left outstanding, everything I have from the short sale, says paid less than full balance and the other says settled paid less than full balance.

I have a BofA request ID# they gave me to check back in sometime time mid November. They also told me that the letter would arrive by November 3rd 2017 stating change sent to bureaus.

Thoughts or should I prepare for the worst?

Thanks in advance.


LoanSafe Member
Get something in writing from BoA, stating that you do not owe them anything for such loan(number).. people make mistake, 90% of them don't know how to use the software at the bank. I was at two different banks, those $14 an hour bank tellers can't access the screen they wanted. blaming it on the connection being slow.

Anyways, all you can do is wait for 30-60 days to see if it's off your reports. If not, call in. Hopefully by then they can give you a better answer as they are more trained.


LoanSafe Member
Thanks for the quick reply. Yup, it's a waiting game now. I seriously spoke to 7 different reps and they all said the same thing, 0 balance. I'm hoping all 7 of them didn't look at the same incorrect screen, haha, not funny though. They said I would have letter by November 7, so if nothing by then I'll call with my request ID.