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bank of america short sales: Bank of America's proactive approach to short sales - 01/20/11 06:00 PM
 

Bank of America has just announced a new process for approving short sales.  When the homeowner makes the decision to sell their home due to a hardship, documentation can be submitted to Bank of America right away and they will order an appraisal and set the list price for the home.  They are committed to continually reviewing the list price with the listing agent to make adjustments if needed.  Once an offer is submitted, the goal of Bank of America is to get final approval within 2 weeks!  Wow!  Of course, it may take longer if there are other … (3 comments)

bank of america short sales: Bank of America to be proactive with short sales - 04/06/10 07:15 AM
Yesterday the new HAFA regulations were adopted by several lenders including Bank of America, Wells Fargo, CitiMortgage, and Chase.  Matt Vernon from Bank of America short sales stated that when a homeowner is denied a loan modification under HAMP (Home Affordable Modification Program), they will be sent a letter within 30 days recommending that the home be sold as a short sale.
A short sale is when a home is sold for less than is owed on the home.  It is available for a primary residence when the homeowner has a hardship such as loss of job, divorce, unexpected medical expenses, … (1 comments)

bank of america short sales: Bank of America short sale approved! - 11/10/09 10:57 AM
I have been working with Bank of America to negotiate short sales on several properties.  In the past, I have gotten frustrated by the fact that I couldn't get an answer when I knew I had submitted everything they needed and worked hard to get the best offer possible. 
They have taken 3-4 months to approve a short sale and in the meantime, I have lost many buyers that submitted offers thinking they would be able to close in 30-45 days.  I guess the lack of communication has been the hardest thing in working with Bank of America.
However, this week has been different.  I … (5 comments)

bank of america short sales: How can we get short sales approved when Bank of America is so slow to respond? - 10/25/09 12:50 PM
 
I am a Certified Distressed Property Expert and handle short sales for homeowners with a hardship that has caused them to be unable to pay their mortgage payments.  I know this is a terrible stress for many and I am happy to be able to provide the service.  There are many steps to a short sale that will make it move along quickly.  I have the knowledge and am actively seeking homeowner that need my service to avoid foreclosure.
I am currently working on 4 short sales and 3 of them are with Bank of America.  One of these properties was … (2 comments)

bank of america short sales: Faster response on Bank of America Short Sales Offers! - 10/06/09 07:31 AM
Bank of America is working with an outside company to get their short sale offers handled faster.  This is great news!  I have worked on several Bank of America short sales but recently lost one due to the slooow response to the offer.  The buyer got tired of waiting and withdrew the offer before we could get a response from the bank.  I know they are overwhelmed with requests for loan modifications and short sales but if they can't handle them, nobody wins.  
I am very hopeful that this new development will make a big difference in processing short sales.  It … (4 comments)

 
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Paul & Jerri Stracener

Athens, GA

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RE/MAX Associates Athens

Address: 1055 Baxter Street, Athens, GA, 30606

Office Phone: (706) 353-1131 x 214

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