Who would have guessed...
Bank Of America has instituted a change in the processing of short sales as of December 1st. For home owners who are eligible for the HAFA program, Bank Of America will no longer hold the file pending the HAFA review.
Additionally, home owners are no longer required to contact Short Sale Customer Care to indicate whether or not they wish to participate in the program. Notice may be given by the real estate agent through the Equator system.
The reason for this change is due to Bank Of America moving the HAFA processing from their outsourced vendors, back to Bank Of America associates. The HAFA processing will now occur in-house.
RED FLAG: The good news is offset somewhat by this bad news. The agent has 14 days from the time the HAFA documentation is mailed to the home owner.... but the agent doesn't know when the home owner receives the documents and BofA wants the agents to confer with the owner for this information. Poorly designed BofA! The documents should automatically be forwarded to the home owner AND the agent who initiated the short sale through Equator.
At least it's a bit of good news.
Keep trying Bank Of America... you just might get it right (I'm guessing it will be about the time there is no further need for short sale processing).