Start by getting a discount at your local bar - they will appreciate the extra business..
Yes there is a packet. First, BofA seems to be getting a little better at this, but make sure your seller has called in to home retention and gone through the loan mod phase for FHA, otherwise you might be moving along and suddenly your file is gone because it was sent over to loan mod. He must be denied in loan mod first (exceptions - vacant house, etc.). Then they will recommend short sale, then an FHA case number is added, then after the umpteenth time of updating pay stubs/bank statements, they will assign a paper shuffler. He will send you the FHA "welcome" packet with account and case number filled out.
You need the normal things, and BofA throws in their addenda, of course.
FHA at BofA is usually very slow, unresponsive and unmanaged. So don't think that it is just you..
@Joe. Dealing with FHA directly?
I have not gone directly to FHA - was discouraged from trying FNMA years ago - the others in the office were right - they could care less. I may have to go to FHA, however, I have several just sitting. BofA supposedly just moved FHA stuff to Jacksonville, but I haven't seen a positive change - just silence..
I've done a few - my last one took only a year! :-)
I wanted to share this in case you all missed the webinar: http://mp135934.cdn.mediaplatform.com/135934/wc/mp/4000/10584/12423...
FHA Short Sale
Hi Rosemary. This is a registration link. Do you have a replay link?
Bryant,
Just log in or register on that link. I will bring up the replay.
Just closed a FHA short sale with BofA yesterday and many, many months.
In between each date, I called, emailed and nothing. On 3/26/12 I tweeted to @bofa_help and got the approval letter. On 7/24/12 I tweeted again and finally negotiator called and said he would get everything set for us to close on 7/26/12 then complete silence. Tweeted, call customer service, negotiators manager, and HUD and finally got it closed. What an ordeal! You have to follow up more than you should and have lots of patience. Good luck.
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