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equator: Destin Short Sale Approved in 60 days? A Bank of America short sale? Heck, yes! - 03/08/10 06:12 PM
What does a Bank of America Equator approval look like? Here is the happy email I got regarding a Destin short sale on Saturday:
What was the key to getting this short sale approved? Tenacity AND creativity. Bank of America's Equator system rejected this offer of around $165,000 as "insufficent" about five times. It was fair market value. In fact, it was a little over what other units in The Palms condo project in Destin Florida were selling for. Finally, we gave up and just entered $1,000,000 as the offer price. Amazingly, Equator let us continue the short sale process without rejecting the offer. … (18 comments)
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equator: Bank of America and Equator: Hints for Short Sale Success - 01/22/10 07:25 PM
If you and your short sale sellers are having problems with Bank of America and Equator (formerly Reotrans), you are not alone. My team and I have been "experimenting" with the new short sale upload system since we've been forced to start using it two weeks ago. Not only does the short sale agent have to use Equator, so does the short sale seller. The idiosyncrasies of the software can be intimidating-- even to a savvy internet user. Passwords don't work, information is wiped out, and files are rejected for reason code: OTHER.
Today a Destin short sale seller came into my office for … (29 comments)
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equator: Bank of America & Equator: Are We Guinea Pigs on a Treadmill? - 01/13/10 09:02 AM
If you haven’t heard recently, Bank of America short sales are getting even… well, weirder. Their new plan is to implement an online system where real estate agents and borrowers can upload their own short sale information. It sounds great-- and it would be--if it worked. OK, you might have heard one or two success stories, but I can tell you from practical experience, until this system is refined your Bank of America short sales might take… longer!
The new system is called Equator, formally REOTrans. It is really a jerry-rigged uploading site that is also used for foreclosure … (27 comments)
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Wendy Rulnick "Its Wendy!" Destin FL Short Sales
Destin,
FL
More about me…
Rulnick Realty, Inc.
Address: 12889 Emerald Coast Pkwy West, Ste. 107-A, Destin, FL, 32550
Office Phone: (877) 487-9639 x 204
Email Me
The market. Smart sellers. The Emerald Coast of Florida.
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