Bank of America recently announced a new short sale forum. This forum aims to educate and empower Realtors to better work short sales. Below are many of the different sessions currently scheduled. For more information on short sales with Bank of America, visit our Real Estate Agent online discussion forum and community - www.theshortsaleguide.com/group/bankofamerica (8 comments)
Short Sale Escalation Guidelines To Consider BEFORE Escalating Several factors contribute to the timeframe of a short sale. Bank of America uses the Equator short sale processing system. Equator is a (14 comments)
Here is an email we just recieved from Bank of America. For short sales with Bank of America in the state of Florida, they are now offering up to $20,000 for sellers to participate in a short sale in many cases. With this program, Florida home owners can get cash back for a short sale with Bank of America! Here is the complete email -
Great news for agents who work short sales with Bank of America! Everyone hates to hear that they must start their Bank of America short sale from SCRATCH when a buyer backs out of buying a short sale. Now, a buyer can actually be substituted instead of having to start the process all over again. This is great news, and is just another step in the right direction that Bank of America has taken to improve short sale approval times and processes.
Here is an email we received a little while ago regarding Bank of America short sale offers and the equator system. This is excellent news, and will hopefully aid in further streamlining the Bank of America short sale process.
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bank of america short sales: Bank of America Short Sale Approval in 11 Days!
- 12/06/10 02:04 AM
I know, it sounds almost to good to be true, but an agent of ours just got a short sale with Bank of America approved in 11 days from the time the short sale package was sent in! I certainly hope this is a sign of things to come with Bank of America! CLICK HERE to read the full post on our short sale agent social networking website. (3 comments)
We recently conducted a survey and asked many of the top short sale agents around the country who their top five favorite lenders to work short sales were. I was amazed at the results! If I had asked this question a year ago, I would bet my bottom dollar that Bank of America would have been at the bottom of most agents list. Needless to say, I was astounded to see that they were at the top or even #1 in many cases as the best lender to work short sales with! We're still gathering data, but would love to (0 comments)
Over the years I have seen many different approval letters for Bank of America short sales. Heck, it seems like no two are even remotely similar to some degree. We just got one Thursday for a particular file that we have literally been working for eight months that is just INSANE!! THAT is a completely different drama that I would write about forever as well.
Here are a couple things on this particular letter that we have never encountered before. ***First off, it is an editable approval letter. Many fields (like the buyers name!) can be edited and (3 comments)
It has been about six months since Bank of America switched over to use the Equator Short Sale System to process their short sale files. We are still experiencing some issues with certain files. Particularly, almost ANY file that Bank of America just services that is actually owned by a different investor or requires some other approval. For whatever reason, whenever we run into cases like this something gets lost between BOA approval and investor approval, and we're waiting month after month with no results. So, I just wanted to poise this questions to other short sale agents out there. (2 comments)
The Short Sale Specialist Network is a nationwide network of Realtors(R) who specialize in helping home owners avoid a foreclosure by working a short sale. Our organization works with thousands of home owners each month, referring them to preferred partner members of our network.
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