Comment

Comment by Dean E Eshelman, CPA, CDPE, IRES on March 18, 2013 at 2:58pm

@Rachael I am CDPE and CPA. Last BofA took 16 months. Never had BofA in 45-70 days.

Comment by Rachael Babinchak on March 18, 2013 at 2:51pm

According to CDPE's Marketing Team, Their Graduates are closing BAC short sales in 45-70 days!  When I said, "I find that hard to believe...", He said, "You know, we can help because Bank of America recognizes their additional training and certification"...REALLY CPDE?!?!?!  BAC would get some sort of preference and suddenly the whole of the short sale department would suddenly work flawlessly for them...I'm not buying it.

Comment by Dean E Eshelman, CPA, CDPE, IRES on March 18, 2013 at 2:11pm

Assuming the judgements are really the homeowners, you can see if you can toss a small amount of cash toward the judgements in exchange for release of the real estate and the judgement will remain against the homeowner. Did this with a huge yellow pages bill on a short sale and it worked.

Comment by Sheila Vardakis on March 18, 2013 at 11:41am

Wow Anna .......... other than making sure the title work has the correct homeowner and social security number.  I have had files where the name is common and even though searching for specific address, other peoples judgments showed up until the title company did a detailed verification.   I can't wait to hear what responses come. 

Comment by Anna Parker on March 18, 2013 at 11:31am

Alright - hoping for some creative brainstorming...Have a client in the COOP SS program with BofA, there's a 2nd mortgage on property, 4 Fed tax judgments (we've got a game plan for the removal of these from property), but also 4 additional judgements against the property.  Any tips/ideas on getting these removed? Client can not go bankruptcy route for removal - BK Atty told them they have other issues to deal with....  Many thanks!

Comment by Rachael Babinchak on March 17, 2013 at 4:25pm

Hanon you will find all over this forum stories that BofA is tremendously slow and present numerous, ridiculous, tedious, contradictory roadblocks.  Alton provides the best answer on what can be done on your side.  I have not closed a seller short sale with them in under 5 months for over a year now, and my buyers waiting for their short sale homes with BofA encounter the same (yes it does appear to be the longest wait with FHA and Fannie Mae).  If you are receiving frequent communication and things are happening, stay patient...it will be hard and frustrating but in the end the home is worth it.

Comment by Alton R. Tyndall, Jr on March 16, 2013 at 6:45am

Hello Hanon, I wanted to respond to your comment, just had a BOA SS approved, it could take at least 60 days but no guarantees, there are a lot of factors involved. It has everything to do with the experience your agent has with SS in general as well with equator. Your agent needs to respond quickly to all requests and tasks sent by the negotiator. Agent must utilize every angle to speed things up including using the twitter equator team. As close as your offer is to their BPO suggested list price, it sounds like you are close. All docs must be right and then investor must sign off on the offer, lots of patience needed, Good Luck!

Comment by Kevin - Greenville, SC on March 15, 2013 at 8:34am

Wendy,

I too have had the Negotiator collect their own docs from the Seller on an occasion or three. It's really THIER job after all.  Strangely I haven't seen any paychecks from their Employer when I have done it on their behalf.

Comment by Wendy Smith on March 15, 2013 at 8:28am

BoA like other services also expect that all borrowers and buyers are Internet savvy and have email, scanners and faxes at their disposal.  This is simply not the case.  I cannot count the # of times my tasks have gone red simply because a seller does not use a computer - impossible to meet the 3-day timeframe.  I have a seller now that is 76 years old and no computer and another seller that has a computer but no printer.  LOL - my tasks go red all the time.  I'm on a first name basis with a few of the Tweet team.

Let's admit it - the EQ platform is nothing more than a system in which agents and or short sale processors do the data entry work for the servicers.  I had one  negotiator @ NationStar that was so bad that I told her she would have to contact the borrower and do her own document collection.  And she did.  

Comment by joe beauchamp on March 15, 2013 at 7:10am

It is clear that BofA's response to being sued for taking forever to do short sales was to change the Equator default of 14 days for a response to 3 calendar days. This gives them the advantage of denying more short sales (thus continuing "maintenance" income from them) while taking no blame because the "agent did not supply the documents", and they get to even more frustrate agents who run around for these stupid deadlines then call over and over while BofA takes 6 weeks to look over what you gave them. A double-plus for BofA. No one in charge of banks.

• ‹ Previous
• 1
• …
• 23
• 24
• 25
• 26
• 27
• …
• 353
• Next ›
• Page