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.

 

 

Members: 1981
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 package

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

Where are the short sale forms now?

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

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

Started by Erinn Frisbie. Last reply by ElizabethWeintraub00697006LyonRE Jan 23. 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

Servicer refuses to pay municipal transfer fee

Started by Jack Barry. Last reply by Thom Colby CA Brkr 888-391-5245 Dec 16, 2015. 5 Replies

Most Difficult Time with Communication with BOA

Started by johnna lodge. Last reply by ElizabethWeintraub00697006LyonRE Nov 24, 2015. 3 Replies

Comment Wall

Comment

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

Comment by Helena Kaucheck on April 20, 2016 at 4:37pm

Desmond, were you provided a counter before the decline?  If so, then that counter would have been the minimum the bank may have wanted to obtain the Net Proceeds the investor is requesting on the file.  That being said, if you were not, I'd question why you were given a Decline without a value to at least know what neighborhood you were in.  I've had those before and when I went back to BofA was able to receive a value to know at least what I needed to do.  If the value they gave you was too high for market, then they either have an incorrect appraisal/BPO or there's something else such as the Seller not showing adequate hardship to allow the deficiency to be adjusted in the "price".  If the value is too high, I would request a Value dispute BUT make sure you provide support that justifies the price.  Investors may not care (and generally don't) that your Formica counters will fetch far below a Granite counter home.  But if there's justifiable proof of the price they asked for is wrong, they may adjust.  Have a several of those the last 6 months.  Been able to win those battles but have sadly lost a few also in the past several years.  If the listing is on the market for an extended period of time with NO activity or Offer other than another one that may be below the bank's desired price point, they may be a bit more flexible.  

Comment by ElizabethWeintraub00697006LyonRE on April 20, 2016 at 4:26pm

Hello Desmond: Yes, BofA along with a host of other banks do not use Equator anymore. I'm gonna throw this out there, just for giggles, but is it possible that the buyer's offer is too low? Have you considered finding another buyer? I don't know where you work, but there seems to be a lot of buyers right now almost everywhere, so that might be your best and easiest bet. You can cancel the buyer when B of A declines the short sale. That might be the out that you need to put this back on the market.

Comment by Mary Wilcox on April 19, 2016 at 10:20am

BofA is not in Equator anymore. =/

Comment by Catherine Gheen on April 19, 2016 at 10:17am

Desmond I am hoping you were using Equator for this file.  There is a trick in Equator to escalate your file.  Go into an email message in the system and hold down the control key and highlight the manager and the team lead for this file.

Did you ask what value the bank had the home at?  Are there repairs that need to be made?  Have you tried submitting contractor's estimates to justify the lower price?

Have you submitted comps to the lender to show the lower value?

One of the biggest rules of short sales is be there when the BPO or appraisal is being done to point out any issues with the home

Comment by Desmond Sinclair on April 19, 2016 at 8:46am

Hello everyone. I have a situation and I hope someone can help me. I'm doing a short sale with BofA and  they send me decline letter (failed internal review) last week.  I spoke with the relationship manager she told me that it was decline because the buyer offer was too low but, she decided to reopen it up for me. I can came in this morning and they send me corrected decline letter, stating the same reason as before. I guess my question is, who can I talk to at BofA to get this file moving along or what are my options?

Comment by Ana Huffer on January 6, 2016 at 1:50pm
Floretta Allen
Senior Operations Analyst
Presidential Escalations Team
Short Sale, Deed in Lieu, REO
1877 471-4367 x 063060
[email protected]
Comment by Scott on January 6, 2016 at 11:42am

I haven't either.  If anyone has an escalation number in this forum, I could use it.

Comment by Thom Colby CA Brkr 888-391-5245 on January 6, 2016 at 11:33am

I've never known BofA to process 2nd in Equator.

Comment by Scott on January 6, 2016 at 10:46am

this is a 2nd, but it's a countrywide series loan--not a HELOC. 

Comment by Amanda Bruen on January 6, 2016 at 10:41am

Scott, what type of loan is it?

 

Members (1981)

 
 
 

Members

© 2017   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************