Bank of America Short Sales

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Bank of America Short Sales

This group is for information, tips and solutions for Bank of America Short Sales.

 

 

Members: 1982
Latest Activity: Aug 2

Bank of America Short Sale Information

 Click The Button Now To Hire A Short Sale       Superstar To Support You.

 

 

Short Sales 1-800-669-6650

Short Sale Fax 1-866-808-5050

Home Retention Department 1-800-669-0102 call to open VA or FHA/HUD short sales

Letter of Authorization Fax 888-491-4947 or 805-520-5019

***Need Help? Try TWITTER HELP****:

****LOG INTO YOUR TWITTER ACCOUNT and TYPE: @BofA_Help Call YOUR NAME RE: PROPERTY ADDRESS, YOUR TEL NUMBER

 http://social.bankofamerica.com/

For TWITTER Do not place LN# or borrower name in the message. Just a brief: 'Need help with a HAFA short sale" will suffice. Make sure to mention short sale. Also, each file should to be a separate tweet. If you have issues with 4 files then send 4 tweets. They will respond very quickly.

 

HELOC Short Sale Department: email for LOA and Short Sale Packages:  [email protected]

 

EMAIL Moderator with new contact info or corrections to this group.

Discussion Forum

Short Sale while home is in Probate

Started by Chris Zubrycki. Last reply by Brett Goldsmith Jun 19. 4 Replies

NO BofA FHA SHORT SALE UNTIL LOAN MOD DENIAL??

Started by RVT REI LLC. Last reply by RVT REI LLC May 21. 2 Replies

Short sale package

Started by Izabella Lipetski. Last reply by Izabella Lipetski Mar 11, 2017. 2 Replies

Where are the short sale forms now?

Started by Elva Branson-Lee. Last reply by Chris McGee Feb 10, 2017. 8 Replies

Pay off 1st in full and short 2nd and 3rd?

Started by Erinn Frisbie. Last reply by ElizabethWeintraub00697006LyonRE Jan 23, 2017. 4 Replies

B of A reducing Escrow/Settlement Fee..Again

Started by Tony Morales. Last reply by Tony Morales Sep 9, 2016. 6 Replies

Upload Trustee Release?

Started by Robert Martin. Last reply by Robert Martin Jun 2, 2016. 2 Replies

Two Separate Files BOA never receives any documents

Started by Lisa Jackson. Last reply by Julie Lyons May 2, 2016. 3 Replies

Decline Letter ( failed internal quality review)

Started by Desmond Sinclair. Last reply by James ferebee jr Apr 19, 2016. 1 Reply

Comment Wall

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Comment by Don Ferguson on August 2, 2018 at 8:28am

Teresa my answer depends on what type of loan it is. If the answer is its govt backed then I tell them no. Fannie and fha and va allow up to 6%. I know b of a has there own rule about that saying they can reduce. I just went thru this last month with them and they didn't bring this up until the approval was written. I countered back that they were dealing in bad faith since they say the listing when this whole thing started. 2ndly I brought up allowable commision to % and they backed off of the 4% for dual agency and gave us the 6. Sometimes you just gotta puff your chest a little and hit them back with the rules that are already in place

Comment by Brett Goldsmith on August 2, 2018 at 8:17am

@Teresa if you have your broker rewrite the contract for the buyer they may pay 5%. Not sure if that makes sense and be careful as it could delay the file, etc and not sure when your value expires, etc. BOA does like to cut commissions based on a variety of factors.

Comment by Dean E Eshelman, CPA, CDPE, IRES on August 2, 2018 at 7:02am

@Teresa Trigas-Pfefferle Are you the agent on both sides or is someone in your office the other agent? Did you complete a Dual Agent disclosure? Consider being a transation broker. That is how we used to get around this. @Jeff Payne -- can you comment on current status. http://shortsalesuperstars.com/group/bankofamericashortsales/forum/...

Comment by Teresa Trigas-Pfefferle on August 1, 2018 at 7:36pm

I have a dual agency situation. BOA wants to reduce my commission from 6% to 4%.

inexplained that I have a buyer agency agreement and that I am requesting 5% based on that agreement as by law I cannot collect from buyer in a dual agency. The thing is buyer is willing to pay their price. They are saying no. Amy advice? 

Comment by Helena Kaucheck on March 27, 2017 at 7:04am
Jim, if there's a decrease in the Net, the approval will have to change and that's what could take on a new review. Generally, it doesn't take as long as the earlier process but it depends on a few factors. One may be whether the value is expiring. Others are if investor has flexibility in the margins, how long the documents used for approval are considered valid before expiring. However, there are investors who are open to a change in net for material issues - but on a case by case. And will take time to get re-approved as any change again will require the investor to approve.
Comment by Jim Phillips on March 27, 2017 at 6:23am

I represent the buyer in this one.

We received BoA SS approval and started inspections.

6K worth of pest damage discovered under the house.

The sellers' negotiator says that if the buyer requests a credit that she has to start over with BoA.  The first negotiation took 6+ months (2 loans)

Is this true?

Comment by Vikki Lucas on January 24, 2017 at 8:17am

Just started up my first traditional Bank of America short sale post-HAFA. I inquired as to the "RMA" required. Here is the response I got from the negotiator for my file:

As you said since HAFA has gone away we won't have to use the RMA form. You may simply have your Seller create a Hardship letter. The letter needs to be wet ink signed and dated and have the address and loan number of the property.

Comment by Brett Goldsmith on January 13, 2017 at 3:09pm

@melanie BOA still uses Equator. BAC Short Sale Addendum and Authorization can be found on their site.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Melanie Ross on January 13, 2017 at 11:14am

 Folks,

Since the link for the forms is not working, where are you all going to get the latest information for Bank of America and all forms? We have a new short sale that is a first. Also they are still using equator?  Thank you!

Comment by Elva Branson-Lee on December 8, 2016 at 7:35am

Thanks, Elizabeth Weintraub, for the form links. I finally got some forward movement on a stalled BofA HELOC short sale (2nd) by using Twitter and Facebook (info has been added above). Unfortunately, it seems to be stalled again. This has been goin on sinvce July 26th. All docs have been completed and returned as requested. Currently working with a short sale/dil specialist II who is not responding to communication. What is a short sale/dil specialist II? Who does this employee report to? I need to talk to someone with juice. Anybody have a corporate contact that could actually get this transaction moving to resolution?

 

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