Well it took almost 120 days to get this Cedar Hill, Texas Bank of America Short Sale CLOSED, but it did finally happen. Our journey was long and arduous and very interesting. I really don't know how BOA keeps saying that they are simplifying their Short Sale Process, what with all the hands they have involved in it, there is not that much that is simple about it!
First of all, I must say that Equator is a whole lot better than it has been since it's inception. The Bank of America Twitter Team http://twitter.com/#!/BofA_Help Rocks! and the UTLS Escalations Department has some great hands-on escalators. But there are some things that I just don't seem to understand when it comes to BOA Short Sale Initiation Stage.
First of all, my client was
doing a Bank Of America HAFA Short Sale. We were informed of this once I uploaded her Personal Information to the Equator System. Once she met all of the requirements for the Bank of America HAFA Program, the file was then sent to AMS, one of BOA Servicers. Well that's where I got stuck.... for 60 days. Upon initial contact with AMS I was told to wait for a list price from the lender before I could list the property. An appraisal was done almost immediately, but for some reason, the results were not made known for at least a month. I had prospective buyers waiting with Offers in hand. So I sent messages to the assigned AMS Negotiator via Equator, but they only bounced back. I left him voicemails, but no returned calls. I then contacted the Bank of America Twitter Help Team and they were great in getting the AMS negotiator to respond to me within a day! Ironically, my seller's short sale file was denied because no offer was submitted with the Short Sale Package...WTH??! Wasn't I told to wait on a list price!!.
Anyway, the file was then sent to Bank of America's other Servicer, UTLS! I was then told that we would have to start the process all over again, with BPO's, Appraisals, short sale package submission, everything! The file was placed with a great UTLS Escalation's Representative, Margaret Lewis. She returned emails, phone calls and answered any questions that I had about the status of the file. So from the time that Ms. Lewis was assigned the file (October 5, 2001), until the time the file Closed (December 12) was approximatley, 67 more days! WHEW...Finally DONE!!
So whether you need to do a Bank of America Short Sale or any other lender, please CALL US TODAY!! We can help you avoid Foreclosure! Let us deal with the run-around from the banks and their servicers! It's what we do!
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