bank of america: BOA extends FL program to rest of US to help homeowners under water - 05/16/12 11:25 PM
Video: Bank of America initiates home loan modification offers … (8 comments)

bank of america: Bank of America Equator Short Sales - 03/13/12 06:08 AM
Bank of America has received a lot of bad press in years past for the way they have handled loan modification requests and short sales however they have been working hard at improving their process.
Several years ago, they moved their short sale process to an online platform called Equator and now many other lenders like Wells Fargo, Nationstar, GMAC & ASC have followed. This system has streamlined communications and translated into a very structured process that is predictable and manageable however it does require additional education and training from the real estate agent handling the short sale if they have never worked … (0 comments)

bank of america: Sharga: Several more years with nearly 1M foreclosures per year - 11/01/11 07:39 AM
The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services.
Sharga recently left RealtyTrac, where he helped build a network that tracked foreclosure filings across the country. Recently, analysts at Bank of America Merill Lynch estimated REO sales would peak until 2013 when nearly 1.5 million properties would be sold.
According to RealtyTrac, there have been 8.9 million homes lost to foreclosure since 2007, the height of the credit crisis.
Sharga said based on lender behavior, he doesn't see a spike happening, rather a slow, steady burn in … (2 comments)

bank of america: JPMorgan Chase Has Completed the Most HAFA Deals - 10/25/11 06:26 AM
 
Since the launch of the Home Affordable Foreclosure Alternatives (HAFA) program in April 2010, JPMorgan Chase has completed more short sales and deeds-in-lieu of foreclosure through HAFA than any other mortgage servicer. That being said, there's still room for improvement as Chase's top-ranking number of HAFA deals is just 2,686, according to the Treasury Department.
Wells Fargo ranked second with 2,400 completed; Bank of America was third with 1,600. It seems the top 10 mortgage servicers also canceled approximately 600K trials because of a redefault, borrower ineligibility or insufficient documentation. Another 1.5 million distressed homeowners were denied from even entering … (1 comments)

bank of america: Bank of America: $20,000 short sale incentive to struggling homeowners - 10/10/11 04:45 AM
CHARLOTTE, N.C. – Oct. 7, 2011 – Bank of America, the nation’s largest mortgage servicer, is offering Florida homeowners up to $20,000 to short sale their homes rather than letting them linger in foreclosure.The limited time offer has received little promotion from the Charlotte, N.C.-based bank, which sent emails to select Florida Realtors earlier this week outlining basic details of the plan.Only homeowners whose short sales are submitted for approval to Bank of America before Nov. 30 will qualify. The homes must have no offers on them already and the closing must occur before Aug. 31, 2012.A short sale is when … (2 comments)

bank of america: Treasury withholds HAMP funds from BofA, Chase again - 09/07/11 09:19 AM
http://www.housingwire.com/2011/09/01/treasury-withholds-hamp-funds-from-bofa-chase-again



Thursday, September 1st, 2011, 1:00 pm
The Treasury Department will withhold payments once again to Bank of America (BAC: 7.45 +6.58%) andJPMorgan Chase (JPM: 34.8195 +4.13%) for their poor performance modifying mortgages in the second quarter.

Both banks need substantial improvement to their operations within the Home Affordable Modification Program, according to the compliance review conducted by the Treasury.

In the first quarter, the federal agency elected to withhold payments from these two banks and Wells Fargo (WFC: 24.92 +4.18%). Since then, Wells made the mandated improvements. Though some moderate work is still needed from the bank, the Treasury will return previously withheld funds.

If … (2 comments)

bank of america: Bring your Horses! - 03/03/11 06:12 AM
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bank of america: 13 ACRES!!!! - 02/18/11 02:03 AM
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bank of america: Bank of America Short Sales - 02/09/11 02:01 AM
By now it is not a secreat that banking giant Bank of America has not been the best to work with where short sales or loan modifications are concerned, Owner or Realtor, same headaches.
For years I have been hearing home owners horor stories about their BAC horor stories and terrible experiences and for years I have been experiencing them as a Realtor.
Could it be too late for them to get their act together? I don't think so and here is why.
Short sales were a mistery for many up until recent and still to many today. As lenders have … (0 comments)

 
Mike Carlos, Realtor, Tallahassee FL (Keller Williams Town & Country Realty)

Mike Carlos

Realtor, Tallahassee FL

Tallahassee, FL

More about me…

Keller Williams Town & Country Realty

Address: 1520 Killearn Center Blvd, Tallahassee, FL, 32309

Office: (850) 583-1919

Fax: (850) 531-8362



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