It is finally here, we have all been waiting to see how BOA was going to change their short sale policy to "expedite" the process...THIRD PARTY INTERVENTION!!! A lot of us agents have been playing volleyball with Bank of America/Countrywide (BOA) now for months...excuses after excuses. They have been the "elephant in the room" with many agents, sellers, lawyers, investors etc. Now they have come up with a solution via website only called Equator.com, where your seller has to log on to enter information and the Realtor logs on to enter info as well. Now never mind if your seller don't have a computer or email....their answer was "go to library"...never mind if your seller does not know how to navigate themselves around the website....( I checked it...and it is very confusing to me and I consider myself pretty good on a computer)....suck it up was the answer....if you don't do it..it will go into foreclosure was the answer. NOW COMES THE OTHER $24,000 QUESTION....WHAT IF YOU WERE WORKING WITH A NEGOTIATOR who was has all the paperwork and have experience in doing short sales.......the answer was "sorry" this is only for sellers and Realtors..........what does this mean?......."we are cutting out the middle man...only Realtors and sellers can log on to this website to complete the short sale"......so for all you Realtors that were using "negotiators" for BOA properties... they will not get paid. Guess what Wells and Chase are next. Will this work? Tell me what you think?
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