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Bank of America....Maybe Not Satan....

By
Real Estate Agent with Lake Home Selling Team of Keller Williams

So for all of you "hard core" short sale agents I may have some great news!!!  If you have been doing any amount of the short sales with Bank of America, you know that you would pick a root canal over a B of A short. 

But this week I listed a new short sale, got an offer and in the same day received a call from my seller telling me B of A had called with him about some "new" program they have to help him short sale his home and FAST!!  Of course I told him, it was some sort of ploy, and don't give them any information!

To my surprise this was legitimate. Bank of America has a new program if they service the loan, and the property is vacant or non-owner occupied.  So I called the assigned mitigator (lovely woman), I know....lovely????  She was very helpful, listened to the details about the home, the market, etc.  She then told me she would get the appraisal ordered and we would have an approval in 30 days or less.

Sooooo, I call my negotiator, and tell him what is going on, he of course is skeptical.  But after he called her (yes, got right through), he phoned me back saying it was legitimate, and we would be closing quick!!

We are 4 days into this, don't know what is going to happen, but promise I will keep you informed!

 

Maybe they are waking up.....

Comments(9)

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Sara Homan
Coldwell Banker Ellison Realty 352-209-4044 - Ocala, FL
Realtor, Homes, Farms & 55+

Cheyanne, I hope they are really going to pull this off for you!  BoA is certainly a big challenge!

Dec 29, 2009 12:26 PM
Cheyanne Lake
Lake Home Selling Team of Keller Williams - Charleston, SC

Thanks, I hate to get to excited, but if they pull it off, that will be good news for all of us.  Will keep you all posted!!

Dec 29, 2009 12:31 PM
Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

Now I wonder if my people should move out?

Dec 29, 2009 12:32 PM
Cheyanne Lake
Lake Home Selling Team of Keller Williams - Charleston, SC

I don't know, time will tell!!!  Wouldn't that be funny...Agents advise clients to "move out" to short your home faster...that should make great headlines.

Dec 29, 2009 12:35 PM
Lisa Schmitt
Coldwell Banker Honig-Bell - Plainfield, IL

I truly hope they ARE waking up. If these deals could be expedited quickly, our local markets would be much stronger and healthier.

Maybe BofA became aware of the bad pub they were getting...

Dec 29, 2009 12:40 PM
Debi Braulik
www.roundrealestate.com - Maple Valley, WA
Selling Maple Valley to Fife WA Homes For Sale

I have not negotiated a short sale with BofA yet and I have been truly dreading it. Let's hope this program gets up and running, and is running smoothly before I get a BofA shortsale.

Please keep us posted!

Dec 29, 2009 12:46 PM
Cheyanne Lake
Lake Home Selling Team of Keller Williams - Charleston, SC

Nice to hear from you Debi, I will be bringing a team to the Seattle market in 6 months with Keller Williams there, hopefully we will get to meet!

Dec 29, 2009 12:56 PM
Debi Braulik
www.roundrealestate.com - Maple Valley, WA
Selling Maple Valley to Fife WA Homes For Sale

Cheyanne- What do you mean? Are you moving to this market? Or are you teaching a class? :)

Dec 30, 2009 09:06 AM
Cheyanne Lake
Lake Home Selling Team of Keller Williams - Charleston, SC

Debi,

I will be moving there.  I will keep my office open in Charleston, but am opening one up there, and will live there full time.

Dec 30, 2009 09:17 AM