Bank of America Short Sales

Information

Bank of America Short Sales

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

 

Click the link below for the Bank Of America Agent Resource Center

Website: https://agentresources.bankofamerica.com/shortsale/process
Members: 1946
Latest Activity: Jul 16

Bank of America Short Sale Information

 

 Click the button to hire a Short Sale Agent Superstar in your area

 

Short Sales 1-866-880-1232

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

Bank of America now requires the listing agent to always be identified as an authorized representative on the Third-Party Authorization Form, even when another real estate professional is assigned in Equator and working the file on their behalf.

Please review the updated
Third-Party Authorization Form instruction guide. Remember that non-Bank of America third-party authorization forms will not be accepted and forms may be updated periodically. So it is important to always download a fresh copy from the Agent Resource Center to ensure you have the latest version.

 

What should I do if the property locks have been rekeyed and I cannot access
the property?
Contact the Property Preservation Resolution Center at 1.866.515.9759, or
by email at fs.escalation@bankofamerica.com.

 

 

***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:  866-413-3757 email for LOA and Short Sale Packages:  jaxhelocshortsales@bankofamerica.com

Foreclosure Dept 1-800-669-6650
Co Op Short Sale Team 877-633-4744

Homeowner update financials 1-800-669-6650 (Home Retention Dept)

Email format Firstname.Lastname@bankofamerica.com

 

**********FORMS REQUIRED FOR BANK OF AMERICA SHORT SALE

 


Bank of America Approval Letter.pdf sample

BOFA Approval 2.pdf sample

Bank of America - No Deficiency Approval.pdf sample

BofA Credit Line SS Application.pdf

 

Valuation Dispute Process for Bank of America short sales

Bank of America FHA Short Sale Welcome Package

VA (Veterans Affairs) Short Sale Program with Offer

 

Important Update: Bank of America is offering some FHA Borrowers up to $4,000 in relocation assistance.

http://www.americanbanker.com/issues/176_151/stevens-fha-bank-of-america-gaither-hud-mortgage-settlement-1040918-1.html?zkPrintable=1&nopagination=1

Non-GSE Cooperative Sales - maximum commission

The Agent commission structure for Bank of America Cooperative Short Sales is as follows:For properties =< $50,000.00

X2 Agents (for Seller and Buyer) – $3,000.00 or 6% total; whichever is greater
X1 Agent (for both Seller and Buyer) – $1,500.00 or 4% total; whichever is greater

 

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

Discussion Forum

Need Some Help With Bank of America Short Sale

Started by Barbara A. Reagan. Last reply by Brett Goldsmith Jul 6. 12 Replies

Offer with investor for final approval

Started by Jody Horn. Last reply by Jody Horn Jun 12. 6 Replies

HELP BOA/FHA.Small OCWEN 2nd Neogiatior Never Available for call

Started by johnna lodge. Last reply by ElizabethWeintraub00697006LyonRE Jun 10. 4 Replies

Equator Won't Take My Short Sale

Started by Barbara A. Reagan. Last reply by Barbara A. Reagan Jun 6. 5 Replies

Passed final QA review, is under review by upper management

Started by Jody Horn. Last reply by ElizabethWeintraub00697006LyonRE Jun 3. 3 Replies

HELP. BOA NOt ACCEPTING HOA or small OCWEN 2nd, Need resolved in 1 day

Started by johnna lodge. Last reply by ElizabethWeintraub00697006LyonRE Jun 3. 5 Replies

Need Escalation Contact For BoA

Started by Keji Ogunleye. Last reply by Keji Ogunleye Apr 10. 5 Replies

Coop Short SAle with BOA --Questions 4/4/2014

Started by Enrique Vasquez-Plaza. Last reply by ElizabethWeintraub00697006LyonRE Apr 6. 2 Replies

Comment Wall

Comment

You need to be a member of Bank of America Short Sales to add comments!

Comment by ElizabethWeintraub00697006LyonRE on July 16, 2014 at 7:42pm

Yes, there is another document. The ATP is only the beginning. It means the seller is approved to participate in the short sale but the bank now needs to approve the offer. It will take another 4 weeks to 4 months to get the approval letter.

Comment by johnna lodge on July 16, 2014 at 4:53pm

what is the actual verbage for an approval for the short sale? i have an atp but i was wondering if there was another document i should have received.

Please advise,

thanks,

Johnna

Comment by Paola Martinsen on April 28, 2014 at 11:45am

Hello--does anyone know if the FHA welcome packet that is on this page is the most current one?

Comment by ElizabethWeintraub00697006LyonRE on April 25, 2014 at 2:32pm

Where are they gonna get the money to pay a CPA? I guess they could take it out of their mortgage payment and just not pay Bank of America that month. That would work.

Comment by Melissa Polce on April 25, 2014 at 12:30pm

"QUICK HEADS UP! A Short Sale client that is self employed- CAN NO LONGER DO THEIR OWN P&L...it must be done by a CPA, on Letterhead-Per BOFA Yesterday...this is brand new and being enforced...YES-even if your client does their own taxes and own book keeping

Melissa Polce, Broker NC & SC

704-450-4335

Comment by ElizabethWeintraub00697006LyonRE on February 27, 2014 at 1:38pm

It is possible the investor is no longer Bank of America. I have not encountered a situation in which B of A sold the servicing but retained the loan. This sounds odd. I have done short sales with Fay Servicing. Attached is the TPA you will need.Fay%20Servicing%20TPA.pdf

Comment by Rich Madden on February 26, 2014 at 4:01pm

Yes, just closed one with Fay last month. They were awesome to work with! best # 630-282-7589 - email me if you need more

Comment by Erik Reilly on February 26, 2014 at 2:15pm

Has anyone heard of Fay Servicing?

I started a cooperative SS w BoA that was service released to them.My seller agreed to the co-op because it had an incentive and did not require a million docs. I had the seller look up his loan on MERS website to see who the investor was and it said it was BoA.

Comment by Heather Locklear on February 25, 2014 at 9:53am

I use Equator to communicate with BAC, but try the number on their Agent Resources page: https://agentresources.bankofamerica.com/shortsale

Comment by Ismael Medina on February 25, 2014 at 9:45am

Has anybody encounter problems calling the short sale dept in the last few days?

 

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