Bank of America Short Sales in Northern CA - Change is a-Coming

By
Real Estate Broker/Owner with Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management 01490605

Bank of America announced this week that they are making some changes to their short sale process.

Bank of America's changes are reportedly going to shorten time frames, perhaps in HALF.

One change Bank of America did a while ago was when they instituted Equator.  Equator has been a huge benefit for those of us who do short sale on regular basis.

One of the big changes is to protect the seller's privacy of information.  A new 3rd Party Authorization will allow only licensed Real Estate agents to talk to Bank of America.

The Second item to change is where SPEED will come into play.

Bank of America Short Sale's used to be a step by step process, step 1 had to be completed before step 2 could be done, etc... now those steps will be able to be done simultaneously.  YIPPEE.

If you live in Northern CA and need help with a Bank of America Short Sale CALL ME.  Ask Questions.

I promise to always give you the BEST answer, not always the answer you'll like.

Bank of America Short Sale Changes for Tracy CA

Comments (5)

DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Hi Susan,

It is about time!  Equator was good but their time to approve is still ridiculous!  Hope the other banks start to follow suit!

Apr 10, 2012 04:38 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Susan, wouldn't it be nice, though? Thanks for the heads up. 

Apr 10, 2012 05:09 PM
Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

Hi Susan,

MOST interesting. One bank appears to finally be catching on to how to do short sales. It only took 5 years, but hey - better late than never!!!

Phil

Apr 10, 2012 08:20 PM
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

I am cautiously optimistic. Bank of America used to be the worst bank to deal with, but they are slowly improving.

Apr 10, 2012 10:26 PM
Dale Bledsoe
Crown Key Realty - Tracy, CA
Realtor in Tracy, California

Give B of A credit for this IF they follow through. 

Apr 11, 2012 02:10 AM