"Jonathan, we are all at the mercy of the banks. When you were told the file was in underwriting, they probably meant that the file had been assigned to a negotiator there. The length of time depends on a few things... does the loan have MI?…"
"I am a buyer on a 'B of A' Short Sale. The sellers have a 1st and 2nd out with 'B of A.' I am not sure how much they owe on either. We offered a competive price (list price). We were just informed by the agent (dual representing…"
"Amazing, I had one where BofA was the first and Wells Fargo was the second and BofA would only allow the second $3,000. I was lucky both accepted the short sale with nothing being brough in to close."
"Yes, they do seconds in Equator. I have a Wells 1st and BofA 2nd and just got approval via Equator. Its different though and we ended up having to bring 8K in to close since Wells would only offer 3k. Typical and good luck on your SS!!!!"
BofA holds the first and second. The first will be paid in full but not the second. My client is the buyer and from what I can see the listing agent hasn't done any short sales with BofA. It is a large office, so I am hoping someone will tell him how to do this. I just sent in the offer and I am crossing my figures.Has anyone been in this position with BofA? Do they do the seconds in Equator also?Thanks for any help!ValorieSee More
"Do you mean, you have it in writing on the acceptance letter or was it on the counter offer that they stated that how much they would pay the second? The counter offer can change many times before you get an acceptance. Check with the closing…"
I have been in real state for many years. Started in MA when in my early 20s, Have gone though many ups and downs in the industary, I found working with short sales is caring about the people involved and my goal is to help them deal with all the requirements of the transaction.
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