bank of america short sales: Why A Palo Alto Short Sale Agent is Working on Christmas Eve
- 12/24/11 10:37 AM
One of the best things that has happened to short sales in the last couple of years is the on line platform for processing a short sale. There are several platforms in use, but Equator is one of the more popular ones, and is the one used for Bank of America and Wells Fargo Short Sales. So, instead of your agent having to fax all the documents, usually several times, the short sale documents are uploaded as PDFs onto the Equator web site. In order to keep the process moving forward Equator will assign a task to be fulfilled by the … (2 comments)
bank of america short sales: Santa Clara Wells Fargo Short Sale: Is 3 months fast or forever?
- 06/22/11 01:45 PM
In 2008/2009 I listed a Bank of America Short Sale in Mountain View. It took 11 months to close it, with the first buyer walking and the second one sticking it out. 11 months, and I was thrilled to have gotten approval from Bank of America for a short sale. At that time they had a terrible reputation for short sale approvals, and now they are most agents favorite company. Boy have things changed! It has now taken me 3 months, from seller signature on a contract to approval of both a first and second loan from Wells Fargo. It sounds … (0 comments)
bank of america short sales: What is The Difference Between a Bank of America HAFA and Co-operative Short Sale?
- 05/29/11 12:31 PM
Bank of America has made great strides recently in processing short sales. For many agents they have gone from being the least favorite to the most favorite bank to work with. They have managed to do this in part by switching to an online documentation system for short sales, called Equator, but I also think it is a corporate decision to work out an orderly way to deal with defaulting homeowners. B of A has recently instituted a new program called the Co-operative Short sale Program. The gist of this program is to approve a short sale before the home is … (4 comments)
bank of america short sales: Bank Of America Loan for Menlo Park Short Sale Buyer: Is it Really Approved
- 04/07/11 03:01 AM
I just had the strangest conversation with a B of A Lender for a Menlo Park Short Sale one of my buyer's is purchasing. First I must say this is not the broker I normally deal with at Bank of America, but someone who came highly recommended to my buyer. Two weeks ago this broker told me the buyer was approved and we just needed the appraisal. Yesterday he tells me the appraisal came in fine. So I ask the logical question, "Can my client remove his financing contingency or are there still conditions that concern you. The answer I get … (0 comments)
One of the best things that has happened to short sales in the last couple of years is the on line platform for processing a short sale. There are several platforms in use, but Equator is one of the more popular ones, and is the one used for Bank of America and Wells Fargo Short Sales. So, instead of your agent having to fax all the documents, usually several times, the short sale documents are uploaded as PDFs onto the Equator web site. In order to keep the process moving forward Equator will assign a task to be fulfilled by the … (2 comments)
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