LRC- Just got my first file that will be handled by this company

Anyone have any experience dealing with them and know what their expectation are?? Any advice would be appreciated. My seller has to move to take care of family and is still living in the home and was told he qualifies for HAFA. They just sent me forms in Equator and said I have 24hrs to upload... right, sure I will get right on it. 24hrs is a ridiculous timeframe to comply with!

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Replies to This Discussion

Permalink Reply by Nathan Miller on March 30, 2011 at 4:20am
But rest assured that they have well beyond the 30 days mandated by the latest HAFA Supplemental Directive to respond to your short sale request....
Permalink Reply by Alec Javan on March 30, 2011 at 4:57am

This is what i got from the LRC today regarding one of my files. Get ready to be frustrated

 

"Ali,

Your transaction got transferred to the ARASS department (Alternative Request for Short Sale) because you came in with an offer already and in the true HAFA program your client would start out without an offer and obtain one during the 120 days marketing period. Bank of America has to use an alternative program to negotiate your offer within the HAFA guidelines. Therefore, your file is transferred from the HAFA platform to an alternative HAFA platform. The process is actually faster at the ARASS department than at the RASS department so it may even be in your benefit. I am sure she will be in touch with you shortly but I will send her an email as well."

 

Have a great day

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