Why we ALL HATE EQUATOR - New Buyers

I have an escalated file with B of A, and, after 14 months hanging in there, the Buyer pulled out while we were working on obatining a short payoff on teh delinquent condo fees (can't say I blame them for walking after 14 months).


With an APPROVED dollar amount, we quickly found a new BUyer, and, were just informed that WE GET TO START THE PROCESS OVER BECAUSE EQUATOR DOES NOT PERMIT BUYER NAMES TO BE SWITCHED).

Good times and teh Buyer, Seller, agnts, attorneys and title company could all not be happier.


Weird thing - this is a B of A portfolio loan ("BANA"), yep it is THEIR OWN MONEY that is sitting as a non-performing note/asset.


I ahve 2 calls in to asset managers, and, the ususal esclation group I send short sale issues with.


Just when you think B of A and Equator are good to work with WHAM, back to reality!!!!


Thanks B of A...I saw they made the NUMBER ONE company for one thing:






sorry to all for venting, but, short sales get to me sometimes....

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Comment by Christina Conrad on June 20, 2011 at 1:30pm
I agree with you on this...Equator has a flaw...and they will tell you it does..but they do nothing to correct.  We lost 3 short sales last week to Bank of America due to a flaw in Equator.  Once something is inputted in Equator by either party incorrectly it is there forever, unless, you close out the ss and reinitiate...which is really awfully when you have a foreclosure right around the corner.  We have complained and complained to no avail.


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