Bank of America is impressing me with some recent changes they are making to improve the streamlined short sale process through the Equator System. The Equator system is a great idea so documents and status of the short sale can be done on-line instead of the never ending faxing, not knowing if they are received by anyone, and trying to speak with a knowledgable representative by phone. Now BOA is getting the seller more directly involved by having them upload their documents themselves to BOA through a secure site set up only for them. It gives them some feeling of control in the process. Secondly, Bank of America is implementing a new pilot program to only a select cases for now, whereby once an agent initializes a short sale, a representative from BOA makes a proactive attempt of educating the listing agent before questions arise by making a welcome call to the agent. There is also a great Quick Reference Guide for Agents that is very helpful. It's a work in progress, but I like what I see so far.
FunCoast Realty 386-405-4408 - Ponce Inlet, FL
your Daytona Condo Agent
Karen, looks like you have better experience with BoA. We just days ago had the case closed, and all we could get was that they thought the value was higher. They did not attempt to counter, ask us to support our numbers, no, they just cancelled the scheduled Appraisal and denied the case.
What part of it is called negotiation is beyond me
Oct 04, 2010 04:14 PM
KTHOMES, LLC - Frederick, CO
Colorado Homebuyer Pro
Wow, sorry to hear of that. We will see how my deal goes as we get further into it.
Oct 05, 2010 06:33 AM
The DiGiorgio Group - Arvada, CO
Independent Broker, Homes Denver to Boulder
Thanks for the update. I did a BoA short that took a year, and swore I'd avoid them from now on. But I've heard Equator is helping, so may give it a go if there's no second.
Oct 05, 2010 07:20 AM
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