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.
Started by Albert E. Manalo. Last reply by James Franko Oct 8, 2021. 11 Replies 0 Likes
Started by Chris Zubrycki. Last reply by Short Sale Superstars LLC Jun 19, 2018. 4 Replies 0 Likes
Started by RVT REI LLC. Last reply by RVT REI LLC May 21, 2018. 2 Replies 0 Likes
Started by Izabella Lipetski. Last reply by Izabella Lipetski Mar 11, 2017. 2 Replies 1 Like
Started by Elva Branson-Lee. Last reply by Chris McGee Feb 10, 2017. 8 Replies 0 Likes
Started by Erinn Frisbie. Last reply by ElizabethWeintraub00697006LyonRE Jan 23, 2017. 4 Replies 0 Likes
Started by Tom Braunagel. Last reply by Tom Braunagel Dec 7, 2016. 3 Replies 0 Likes
Started by Tony Morales. Last reply by Tony Morales Sep 9, 2016. 6 Replies 0 Likes
Started by Robert Martin. Last reply by Robert Martin Jun 2, 2016. 2 Replies 0 Likes
Started by Lisa Jackson. Last reply by Julie Lyons May 2, 2016. 3 Replies 0 Likes
Comment
Yes, Bank of America had a recent change in processing VA Compromise Sales. They now are entered into Equator.
BJ, I don't believe BOA VA is going to request any specific verbiage to be added. I know BOA FHA does. If verbiage is needed that is not there, they will just ask that it is added down the line.
310-564-6389
What is the latest verbiage that BOA are asking that agents add to our listing agreements (VA loan).
you should not be surprised especially when it comes to Bank of America. I had a short sale a few years ago with an old Countrywide loan. They tried to bluff me that the M.I. company wanted payment in the short sale. I demanded they provide me and the borrower with copies of those documents. They never could because No Countrywide loans ever had M.I. it was a ploy for them to get money out of the seller in the form of a promissory note! After escalation the negotiator stopped asking me to have the seller contribute or sign a promissory note for the non-existent M.I. company
Elizabethweintraub you crack me up! How do you really feel? Enjoy your weekend!
I don't know why this surprises me when it shouldn't. After all, if a lender can own a mortgage insurance company and then use that mortgage insurance company to issue mortgage insurance for its own worthless loan without equity, nothing really astonishes me. It would make sense that FHA would have a way to dump its underwater loans. I learn something new every day.
I was afraid to mention the 601 Transfer coz I would not have had time to go find the info and I didn't know it well enough to explain it! Thanks Mr. Gelsinger! Great work!
Jim, you are not going nuts. The loan could have very well been sold as part of a 601 Transfer or Sale. There are loans that were backed by HUD in the beginning and then were switched to conventional loan. Here is some info directly from the HUD website:
The Accelerated Claims Disposition (ACD) Demonstration is designed to provide an alternative disposition strategy for delinquent Federal Housing Administration (FHA) loans. Enacted as Section 601 of the Appropriations Act for Fiscal Year 1999, ACD gives the Department of Housing and Urban Development (HUD) the authority to experiment with a more flexible method of paying claims for FHA-insured loans and disposing of foreclosed, single-family properties. The legislation permits the Federal Housing Administration (FHA) to accelerate the claim on delinquent mortgage notes and transfer them to a public/private joint venture (JV) for disposition. FHA sells the notes to the JV at a discounted price determined by competitive bid. The JV then manages the restructuring of notes for securitization and sale or the foreclosure and property sale of non-performing loans. FHA retains an equity interest in the partnership undertaking asset disposition.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.
You need to be a member of Bank of America Short Sales to add comments!