Bank of America Short Sales

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Bank of America Short Sales

This group is for information, tips and solutions for Bank of America Short Sales.

 

 

Members: 1978
Latest Activity: Dec 11, 2023

Bank of America Short Sale Information

 Click The Button Now To Hire A Short Sale       Superstar To Support You.

 

 

Short Sales 1-800-669-6650

Short Sale Fax 1-866-808-5050

Home Retention Department 1-800-669-0102 call to open VA or FHA/HUD short sales

Letter of Authorization Fax 888-491-4947 or 805-520-5019

***Need Help? Try TWITTER HELP****:

****LOG INTO YOUR TWITTER ACCOUNT and TYPE: @BofA_Help Call YOUR NAME RE: PROPERTY ADDRESS, YOUR TEL NUMBER

 http://social.bankofamerica.com/

For TWITTER Do not place LN# or borrower name in the message. Just a brief: 'Need help with a HAFA short sale" will suffice. Make sure to mention short sale. Also, each file should to be a separate tweet. If you have issues with 4 files then send 4 tweets. They will respond very quickly.

 

HELOC Short Sale Department: email for LOA and Short Sale Packages:  [email protected]

 

EMAIL Moderator with new contact info or corrections to this group.

Discussion Forum

Investors not pushing off auction date

Started by Albert E. Manalo. Last reply by James Franko Oct 8, 2021. 11 Replies

Short Sale while home is in Probate

Started by Chris Zubrycki. Last reply by Brett Goldsmith Jun 19, 2018. 4 Replies

NO BofA FHA SHORT SALE UNTIL LOAN MOD DENIAL??

Started by RVT REI LLC. Last reply by RVT REI LLC May 21, 2018. 2 Replies

Short sale package

Started by Izabella Lipetski. Last reply by Izabella Lipetski Mar 11, 2017. 2 Replies

Where are the short sale forms now?

Started by Elva Branson-Lee. Last reply by Chris McGee Feb 10, 2017. 8 Replies

Pay off 1st in full and short 2nd and 3rd?

Started by Erinn Frisbie. Last reply by ElizabethWeintraub00697006LyonRE Jan 23, 2017. 4 Replies

B of A reducing Escrow/Settlement Fee..Again

Started by Tony Morales. Last reply by Tony Morales Sep 9, 2016. 6 Replies

Upload Trustee Release?

Started by Robert Martin. Last reply by Robert Martin Jun 2, 2016. 2 Replies

Two Separate Files BOA never receives any documents

Started by Lisa Jackson. Last reply by Julie Lyons May 2, 2016. 3 Replies

Comment Wall

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Comment by Smitty on March 20, 2012 at 12:04pm

The REASON that things are smoother when we initiate sale with offer is because we are controlling the list price.  If we can show listing history or comps and a BPO is done that supports our work, it should be a win win for everyone.  If we initiate and a BPO is done and the property sits for whatever reason the bank thinks the value is one price but we have to keep dropping the price to get an offer an then there becomes a big gap, so NO SALE if we are too far apart. 

IMO there has been NO benefit to starting a sale and getting a bpo done without an offer in hand. 

Comment by Wendy Rulnick on March 20, 2012 at 11:58am

So far, the consensus seems to be - don't bother...?

Comment by Petra Norris on March 20, 2012 at 11:54am

Wendy, I was wondering the same thing.  Every time I initiated before I received an offer and uploaded docs, they closed it out and had to start the process all over again because it took longer to get an offer.

Comment by Wendy Rulnick on March 20, 2012 at 11:52am

One of my BOFA sellers asked (with my suggestion) to be in the COOP program, after I initiated his listings in Equator (with no offer).  They told him "yes".  The bonus I see there is - no financials and his relo incentive.  Unfortunately, they just service released his HELOC to Greentree, so COOP is probably out now...  The BOFA HAFA "pre-contract" attempts I've had did not come to fruition....

Comment by Stephanie Hart CA 310-930-2342 on March 20, 2012 at 11:46am

I find that interesting... this is a quote from an e-mail recieved this AM... from Wells... working toward a pre-approved price for 3 weeks, through different channels Orig I was told to only submit listing and Est Hud....This loan has been assummed many times. Not sure if that makes a diff. Sorry, but that isn’t the case. I would need a purchase contract to proceed with this process, please let me know if that is something you can provide if not I will have to close out your loan.

Comment by Sean Barrow on March 20, 2012 at 11:40am

Wendy I was about to post the same question-

I just came back from a Making Home Affordable session where BofA, Wells, GMAC, Citi & Chase, as well as Fannie & Freddie had reps present, where the morning was reserved for 'RE Professionals Education'. The only clear message I came away from this session with (and this was repeated by each of the servicers present) was that they would very much like all short sales to be submitted to them immediately on listing the property, that we not wait until an offer has been received. Of course, this was an MHA convention so that may be where this emphasis was coming from. 

The benefits seem obvious (valuations done up front, price and terms expectations set up front, single point of contact assigned, etc.)...however, so far I've had better experience submitting the package with an offer.

It would be great to hear other agents experiences.  Specifically, are there certain servicers that seem to be responding more expeditiously than others if the file is opened with them ahead of time? 

Comment by Stephanie Hart CA 310-930-2342 on March 20, 2012 at 11:01am

I wonder the same Wendy... I just tried on one with Wells and was bounced around then basically told put it on at fair market value... Thanks for those 3 weeks of my life:D

Comment by Wendy Rulnick on March 20, 2012 at 10:55am

Who has success initiating short sales in Equator BEFORE an offer? Have you found benefits, such as HAFA?

Comment by Suki Sung on March 20, 2012 at 1:21am

Thank you Christy, for your comments and 

Kevin, They have a straight 2nd.

Comment by Jodie Luke on March 19, 2012 at 6:53pm

@Tom- your very welcome! I love this website its so great to share info and learn from others- lets keep in touch and I wish you all the best with DTS! Call me if you need any help or run into any snags-

 

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