Sarasota Foreclosure Help - Stop Foreclosure In Sarasota - FREE information on Foreclosure Defense, Mortgage Modification, Tax Consequences, Deed-in-lieu-of-foreclosure, Short Sales, Deficiency Judgments, Bankruptcy Referrals & more. John Michailidis, SaraMana Properties – Phone: (941) 822-5221
B of A Short Sale In Sarasota, Bradenton, Venice, Lakewood Ranch - What To Expect If Bank Of America Holds Your Mortgage . . .
So, what does it mean if you are a Sarasota / Bradenton area homeowner unfortunate enough to have taken a mortgage with Bank of America, and are now facing foreclosure and need to do a Short Sale?
- Hire a professional who has dealt with them before to handle the process.
- See #1.
B of A uses a computerized system called "Equator" to "track" Short Sale transactions. The broker handling the Short Sale for the homeowner is assigned an account login and ALL communications regarding the transaction are done through Equator. All files are uploaded electronically and all communications are via email. A good broker will check Equator regularly to see if the file is on track and if any messages have been posted to the system.
Anything related to that file is supposed to be posted to the Equator system, but here's an example of the type of thing that routinely happens on a Bank of America Short Sale . . .
I recently got a call from one of our sellers saying they got a call from BofA saying their Short Sale was declined. Of course, the rep that called our seller was merely reading from a computer script and had no actual idea of what was going on with the file.
Now we knew that there was no way that the Short Sale should have been declined (it still showed active on Equator) but we are also aware that this company is capable of anything, from basic incompetence, to outright lying and scare-tactics, so we got to work . . .
Come to find out, the file was "mistakenly" closed. Never mind the anguish the seller had to go through, thinking the file had been closed, we eventually got them to "reopen" the file. This is why it is vitally important to work only work with a Short Sale broker that is intimately familiar with Bank of America Short Sales - most wouldn't know how to get the file reopened and would have had to start the process over again from scratch, wasting months of time unnecessarily.
Of all of the criminal banking syndicates that caused this nation's financial, housing, and employment crisis, B of A is by far the most inept and unresponsive. It pays to have professionals working for you. Click the link to learn more . . .
The SaraMana preForeclosure & Short Sale Assistance Team helps Short Sale Buyers, and Property Owners in Sarasota, Lakewood Ranch, Bradenton, Venice and throughout Manatee & Sarasota Counties Florida to STOP Foreclosure, potentially Avoid Deficiency Judgments, Successfully Short Sale their homes, and move on with their lives.
For more information, Call 941-822-5221, or use this ONLINE FORM.
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