HELP!!!! 

 

My clients have been waiting on a BofA short sale for 5 months.  This is the ONLY house they want to buy - it's perfect for their huge family and horses.  The sellers were cooperating for the first few months but then suffered a family tragedy and went MIA. 

 

Now, BofA has no choice but to foreclose. 

 

My clients are DEVASTATED at the thought of not closing on the property.  Has anyone had success in getting a bank to sell to the short…

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So you have determined that you owe more on your Kansas City home than it is worth and you need to sell because you cannot afford your home any longer.  You decide to short sale your Kansas City Home. 

There are some tips that I would…

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How dare BoA and equator go backwards and make document collection more difficult!

How dare they waste our time! How dare they insult me like this! Look at what happens when I submit a perfect file:

I receive 2 auto generated emails (I confirmed a human being on the BoA side marked the file for REJECTION):

Subject> Offer Supporting Documents Rejected…

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The First Step To Consider Taking To Avoid A Foreclosure of Your Kansas City Realty.  My first post of "What To Do Right Now If You Are Facing Foreclosure of Your Kansas City Home" outlined that there are possible options to foreclosure of your…

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We are proud to say that another of our short sales listings has received an approval on the submitted short sale contract. This …

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What to do right now if you are facing foreclosure of your Kansas City home. Having assisted numerous individuals and families facing the foreclosure of their Kansas City homes, for both Kansas and Missouri, I have witnessed first hand the need for educating the public as to foreclosures and short sales during what is a difficult and emotional time.



As we continue to hear in the media,…

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1. Tricks



I don’t know if kids do this anymore, but I remember part of the fun, the anticipation, of Halloween was coming up with a “Trick” to offer in exchange for candy – a joke, rhyme, hand stand, armpit noise or, if you were desperate, a song. Foreclosure prevention is like… Continue

I have tried and so has the homeowner to get a copy of the BPO so that we know where BofA is coming up with their numbers. Every time, we are denied. BofA says we can't have a copy or know what it is! I talked to Fannie Mae and they said we should be able to get it, but no luck w/BofA. Any suggestions?

Making Sense Of The Mortgage Crisis-How The FDIC Loss Share Program Is Hurting Homeowners



In September/2009 I wrote a blog titled "Is The FDIC Killing IndyMac OneWest Bank Short Sales & Loan Modifications?". In February/2010, the folks… Continue

I have been trying to get a short sale approved on a condo via Equator. I escalated the file and resubmitted and now the counter offer is even higher than the 1st time the file went through. Original counter was $72K now they countered first at $85K and now $75K with a 7K promissory note or 3K cash contribution and not paying a lot of fees - such as lawyer, wire, transfer and 2nd lien because they claim I did not give them 2nd lien holder's info though I put it in the comment section where…

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Thanks to Tim & Julie Harris for getting the information on this this program Bank of America is hopefully going to implement soon. It is in the "testing" phase now.

This is what we all have been hounding the banks to do for a few years now. This…

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Again, we were shocked but excited by the Short Sale Approval letter language waiving Bank of America’s…

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Until 7/21/2010, our office had never…

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Here are some current comments and trends which one of an industry lead online articles inspired some thoughts and feedback which you as readers repositioning your business strategies may find insightful to current local, regional, and national market conditions that we are tracking for our clients around short sales acquisition both one off and bulk asset acquisition.…

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I would like to start a movement with BAC. All their approval letters should include the following:

Buyer (insert buyer's name from contract). **Replacement buyer subject to BAC approval.

Now wouldn't that eliminate being in escrow 3 to 4 to 5 times - assuming net to BAC was the same and no change in close of escrow date?

I say that while having 6 short sale escrows with them, and 3 approved - but it's absolutely pulling teeth and insanity.

I represent a seller who has a first and a second with B of A. The second is a HELOC. The file is hardly short but just short enough that we needed to request a debt relief on the HELOC.

This file went very smoothly through…

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Reducing Principal will help Reduce Foreclosures

People who face losing their home in foreclosure often ask, "If the bank is going to lose all this money by selling my home at fair market value, why can't they re-work my loan at that same price? I could make

the payment if they would simply reduce my loan balance to fair market

value." In effect, that is exactly what Bank of America is proposing

to do.

Not all of the details are out, but…

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Short Sale, Bank of America and the Squeaky Wheel

When I was a child I always heard "The squeaky wheel gets the grease" and today..I was the Squeaky Wheel. I have been working on a Short sale since November 16th. The sellers paid top dollar for the house $425,000 in 2005 and put $40,000 down.

In June my sellers had a 40% reduction in pay and the other was laid off. No question about the…

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I saw the title of the Equator group....."muddling through the process" is certainly accurate. I have an offer long overdue to get approval or a response from B of A and as always seems to be the case with B of A, they seem to want to do everything to sabotage the deal. I thought Equator was supposed to solve their internal confusion and all it seems to do is make it worse. B of A is the 2nd on this one and we have now had approval from the 1st for over a month and it's due to expire soon. I…

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