Background: I belong to several different professional networking groups that are focused on real estate short sales. There are lots of different perspectives presented amongst these groups by buyers, sellers, agents, third party negotiators, buyer's lenders, title company escrow officers, etc. It was always my experience that the vast majority of all these different stake holders had a common experience in dealing with Bank of America (B of A) and that was A BAD EXPERIENCE. In very few instances would you hear of a positive experience. And when you did, they were so far and few between, you kind of thought that 
something had gone wrong, or a mistake was made, and that was the only explanation for what turned out to be something postive. No kidding.
Recent events: I've been working on a short sale for 12 months now with B of A. This is by far the longest I've worked on a short sale by the way. Anyway, I've had three different offers all turned down as too low due to terrible, way-too-high BPO done by out-of-area agent. After the third offer got turned down I let B of A shut the file down and then waited a couple of weeks so I could resubmit as a HAFA short sale. There were still some kinks getting this going. I had to have the seller call the bank and ask for application documents as they wouldn't talk to me for some reason. I even had to get the seller to call in a check status a few times as they still wouldn't talk to me (even though they had a Letter of Authorization on file for me). Whatever, we got things done this way. A new BPO was ordered and we "managed it" and got a reasonable value as the starting Listing Price on the HAFA Short Sale Agreement (SSA). Of course it's not magic - with the reasonable starting List Price we quickly got a reasonable offer and I just submitted the HAFA Request for Approval of Short Sale (RASS). Now we're waiting for the 10 business days within which we are either going to get a final acceptance or denial. Since all our costs are in line with the guidelines on the SSA, I'm assuming we're going to get an approval. In ten days! Yeah, baby!
So, I said all that to say this...things seem to be working differently at B of A now. Why? I don't know; but at this point I don't really care I'm just glad things seem to have turned around. OBTW: All this has been done inside the dastardly system known as Equator. Things seem to be working pretty smoothly now on that front too! Ditto the previous yeah, baby! So...if you haven't worked a B of A short sale in a while, or you had made the business decision not to do them anymore due to the previous inefficiency, things have changed and you might want to reconsider. Try one and see!
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