bank of america: How's the new BoA Short Sale process changes working for you? - 05/26/12 05:45 PM
Short Sale process changes from Bank of America.... how's it working for you? Or do you know about the changes?
All serious short sale agents should keep up with the latest changes being made by the banks so that they can better inform their clients as to how this will affect their listings. The shorting of the time frame for closings will greatly increase the number of closings.
Bank of America announced in April that they have been busy working on changes to their Short Sale process.
Great changes include:
Only 5 days to submit a back-up offer - if … (0 comments)
|
bank of america: Short Sale "Pilot program" vs the rest of us ... who wins? - 05/24/12 07:06 AM
As we know short sales have been around for a while now. This is not to say that everyone knows how to do a short sale and it certainly does not mean that all homeowners know how short sales work.
In other words, there is still point of order as to how a short sale really works and what are the clear facts about a short sale. So here are some of the points that I want to make about where the short sale market is now - just for clarity
SHORT SALE CLARIFICATIONS - a still not so clear cut!
Underwater: … (0 comments)
|
bank of america: CONSUMER ALERT! News for BoA Homeowners-UNDERWATER & Short Sale Bound! - 05/21/12 09:57 AM
Of the major banks - Bank of America is standing out for the big news of how they are reaching out to help homeowners. Now is the time to help get the word out before the funds are gone and the offers/opportunities are deceased.
Bank of America News - ALERT YOUR HOMEOWNERS
Scenerio: Your client wants to do a short sale, but you do not have the offer yetA:) Bank of America is offering relocation incentive (enhanced relocation assistance payments) to homeowners that are underwater: The amount is from $2,500 to up to $30,000. Qualified homeowners can receive this relocation … (2 comments)
|
bank of america: Short Sales + Relocation $. YEAH!..but is there enough $ to go around? - 05/19/12 01:23 AM
Bank of America - Short Sales + Relocation $. YEAH!..but is there enough $ to go around?
Before I say ....Bank of America is really trying! Let me say that having to short sale your home is nothing to be taken lightly. I'd rather see all homeowners that are having problems be able to get a workout plan (no matter what the name of the plan is). I'd rather see existing homeowners stay in their home and the real estate market be so great that we have so many first time home buyers that we don't know what to do with.... … (0 comments)
|
bank of america: Bank of America is bullish on improving their Short Sale process! ... work with it B/A show us what you're working with! - 04/16/12 08:36 PM
Bank of America is shaking things up in the Short Sale arena!
Bank of America is changing its Short Sale ways!!! Right on for the progress!
Bank of Amierica is putting up a fight to clean up their short sale process. I think I like it!!!
Starting Saturday, April 14, real estate professionals working with BofA will be required to submit five documents for short sales initiated with an offer:
Purchase Contract including Buyer’s Acknowledgment and Disclosure HUD-1 IRS Form 4506-T Bank of America Short Sale Addendum, which includes the Agent Certification form Bank of America Third-Party Authorization Form The … (0 comments)
|
bank of america: REOs for rent?... REOs for Sale?? which will it be? - 04/06/12 03:27 PM
REO to rental has been a hot topic recently. You will find yourself asking the question - is it for sale or for rent??
There is a change in perception on what is going on with the properties after they are foreclosed. We are finding out that they are not all going to an Asset Manager with a race of time to see how soon they can sell them. Some are being marked as properties that can be leased back, rented out and some that will sold to another copy that will take them and rent them out. Some are just … (1 comments)
|
bank of america: Why do it the hard way when....Bank of America has a "Soft" way to do it! - 07/25/11 01:14 AM
Scenerio: Buyer just walked... its a Bank of America transaction in Equator. Question: Can you close out this transaction "Softly" or will it be "HARD" to get your backup offer in the system and keep moving forward?
I think the way to resolve the solution is exactly what Bank of America is starting... Having a back up offer process for every short sale - in fact, why not go a step further and have multiple offers? I'm just saying!
Most banks will allow only one offer to be sent to them at a time. And this makes sense that they only work on … (5 comments)
|
bank of america: What is this Short Sale World Coming to? - 05/20/11 11:16 AM
Why, why would Bank of America need another Letter of Authorization so late in the game??? Why have they changed the company they are using for short sales? I was just told that REDC is handling the Bank of America short sale that I have. I can't wait to have Bank of America as a guest speaker at our upcoming event to ask them face to face --- what is up with that!
As far as I've ever known about REDC ... they do auctions. Now they tell me they are into short sales? I wonder if this is like one … (4 comments)
|
bank of america: Sorry it took so long to review (punt intended)...what bank deserves this 1st place ribbon? - 01/06/11 02:28 PM
Oh sorry this took so long to publish. I apologize for taking so long do my review of what bank really earned the 1st place prize for "most displaying some sort of speed" in completing a request for short sale in a timely manner -- and with some good customer service to boote! Well, what do you mean with some sort of speed? Don't they all do that?
Heck to the No! I have had some stress pains - enough to share when dealing with Bank of America, Chase (oh my gosh!) and let's not forget that Wells Fargo, American Home … (0 comments)
|
bank of america: Principal Reductions (Bank of America is bring to LIVE!)... Do you qualify? - 11/18/10 11:23 PM
I had the pleasure of speaking with Bank of America regarding the National Homeownership Retention Program (NHRP) - Principal Reduction. I like it when the banks puts in the effort to help the homeowners!
I was told that it is an old program just coming to live. It started in 2008, with the last attempt being back in May 2010. It seem to have died but now it is back in the forefront.
This program is ahead of interest rate reduction,when modifying certain loans:
subprime pay option and prime 2-year hybrid mortgages Several enhancements are being made to the program, including … (2 comments)
|
bank of america: Phantom Inventory or a clogged system or both? - 01/25/10 01:54 AM
Is the system clogged? YES! Other than "bad loans" --- What can we blame it on? Blame it on the.... Voluntary moratorium of foreclosures: While banks were taking a "time out" or "quiet time" to work on meeting the requirements of the Making Homes Affordable program and/or by state rules requiring mediation before banks could start the foreclosure process.... meanwhile back at the ranch -- more defaults, more short sale signs were going up and eventually more foreclosures(bank owned properties/REOs) -- to add to the pile.
Using the largest of the banks that is highly involved in the Making Homes Affordable -The … (1 comments)
|
bank of america: Buyers: Wondering just how many pre-approvals you will need before getting an offer accepted? - 11/17/09 09:19 PM
So how many pre-approvals does one buyer really need?
One of the frustrations that agents and buyers experience is that while searching listings, you run into properties that require that the buyer get an additional pre-approval from that seller's preferred lender.
Now this does not sound like a big deal if you only had to do that with one other lender, HOWEVER.... This is not the case! With the market condition (one of the highest hit foreclosurethe way it is - in the San Joaquin Central Valley and in the Alameda/Contra Costa counties of Northern California it is a lot of … (2 comments)
|
</
Get the 
;)
;)
;)
