Comment

Comment by Sameer Punjani on August 3, 2011 at 6:14pm

Im all smiles, just glad i have somewhere to vent where im hoping some people that work at these corrupt banks read what i have to say. Everytime a new chase bank gets built i get pissed off because they screwed everyone and take months for short sales, yet only think about how to get more deposits.

Comment by Kylee Roe on August 3, 2011 at 6:05pm

AMS has not clue. If not for Sameer, mine would be dead! Also, Coleen, don't "wait to hear from HAFA". Whoever your service provider is, I'd be calling every week checking , then demanding an answer. And after a couple of weeks, it's calls every day if you have to, not every week. These service providers--AMS, REDC--they are like working with what B of A was a few years ago. Uneducated, unwilling, and unable. BofA is super easy now, if dealing direct with them, but thru the service providers, it is still a battle.

Smile Sameer!

Comment by Sameer Punjani on August 3, 2011 at 5:41pm

Thats the problem with ams, they will never let u know what they are missing, then play dumb and wait till the file expires so it gets declined...remember people, files go to ams to die there. Google ams loan servicing and see the results.. my blogs are at the top of the result pages for a reason. Even msg the ceo on linked in and that idiot didnt even respond.

Comment by Kylee Roe on August 3, 2011 at 5:39pm

For Coleen--and everyone else. I have a B of A HAFA that is close to a year old! We started with a bogus BPO, or other entity that left B of A thinking I could get 319K for a home that easily comped--multiple comps, the same model, same sq ft--for 80K less! We're close to closing, but just a heads up, HAFA is no cake walk. Also, I believe you shouldn't list the home until you have an approved price from HAFA--at least that's what they were saying a year ago. Maybe some other Superstars can chime in on that and educate me?

Comment by Robin B. Cook on August 3, 2011 at 5:37pm

I did exactly that and sent everything to AMS, called for an update and was told that Fannie Mae had declined the file because there were no W2's.  Who knew I had to send those too!!

Comment by Tara Polley on August 3, 2011 at 3:14pm

If the client agrees to HAFA, it won't go on Equator right away either. BofA will send it to a 3rd party (like REDC) to process. You should gather the Hardship Letter, 4506T Form, Dodd Frank Cert, RMA Form, 2 mo. bank statements, and 2 yrs. tax returns, and fax them in. They will determine if the homeowner is HAFA eligible, then assign a negotiator (the call them asset managers), send it to underwriting, *then* they will assign it to you on Equator if it gets HAFA approved.

Comment by Valerie Pressley on August 3, 2011 at 2:53pm

Hi Coleen,

Bank of America doesn't have a specific short sale package.  Once they have your third party authorization, you should ask them whether the short sale is going to be processed on Equator or not.  FHA mortgages are not put into Equator.  Equator is the online system that Bank of America uses to process short sales.

Comment by Coleen DeGroff on August 3, 2011 at 1:58pm

Hi all,

I have a family who has a 1st and 2nd with BoA. They have been told by BoA that they are eligible for HAFA. They are waiting to hear back from the HAFA person to verify what they need to do. In the meantime they have decided to list their home as a short sale. Can I send them the Short Sale Superstars financial packet to fill out, or is there somewhere I need to go online to get an actual BoA short sale package for them to fill out?? 

Comment by Kay VanKampen on August 3, 2011 at 12:12pm

I had a problem getting a final Hud approved for closing today and tweeted Bank of America and got an immediate response.  Way to go Short Sale Superstars for getting the word out about Twitter!  I received a call from BOA within a few minutes and the final hud was sent within an hour! 

Comment by Thomas Zdanowicz on July 30, 2011 at 6:48am

I agree Napua, in the times I have approved the list price I find the appraisals/BPOs are always higher.  If you wait until you have an offer it seems the offer affects the appraisers opinion.  I am also bringing a contractor in to give me an estimate of work to be done to bring the price down in their eyes.  It may take a liitle longer to close but it is in the best interest of the seller to do it this way.   I would love to hear everyone's comments.

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