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 Kevin - Greenville, SC on June 16, 2013 at 1:01am

Call me tomorrow afternoon if you want to discuss it further.  864-485-9283.

Comment by Kevin - Greenville, SC on June 16, 2013 at 1:00am

Travis,  This $400 for the HOA Lien should be coming out of the Seller's Incentive per FHA PFS Guidelines.

Comment by Travis Duncan on June 16, 2013 at 12:56am

Been working on a FHA/BofA short sale for 18 months now and hopefully am down to the last stage... In submitting the HUD1 we are short approx $400 to pay off the HOA lien. BofA is saying it can't be on the HUD in the commission section(I offered to pay it out of my commission), that has to stay at 6%. 

BofA says - " I just had a file pass through quality with the exact same issue.  They were paying off a lien and agent contributed the remaining.  $2250 was listed in the 500's (can also be in 1300's) and the remaining portion the agent was paying was in the 400's."

Closing attorney replies - "400 section of the HUD is a credit to seller, this will then add funds (not to the HOA) but to their net fee and the bank will get the difference, Travis I suggest you bring us a check for the 407.40 or we will deduct this from your commissions and leave off the HUD or our firm will be shorted and have to pay this from our fee.  I can list in the 500 sections but 400 is credit to seller section not a section I can pay a fee by an agent."

BofA replies - " I understand and appreciate your help with this HUD.  We are extremely busy as well.  In order to move forward with this file the HUD has to be listed as I stated.  I realize this would leave a credit to the bank.  We are paying off the lien.  I just qualified a loan this week  in the same exact situation.  The remaining balance the agent was paying was listed in the 400’s."

Closing Attorney reply - "Then I think it needs to be switched to another law firm, I can no longer assist with this HUD..."

Anyone out there been in this situation before? This is the last chance to close on this property as we are past the dates on the approval to participate...any help would be greatly appreciated!

Comment by Uilani De Motta on June 5, 2013 at 10:50am

OH AWESOME...Congrats!!! Small victories are worth celebrating!!! Pass over some of that good mojo...I could use it on a SS that I am waiting on BofA for! 

Comment by Wendy Rulnick on June 5, 2013 at 10:48am

Uilani - The loan is gone... I don't have to wait for anything :)

Comment by Uilani De Motta on June 5, 2013 at 10:33am

Hi Wendy- We had this situation on a file and it took forever, because of a FCL date we had to take it out of that procedure and do the short sale which the approval came within days.  If you have time to wait it's a great thing, but call and ask them what the timeline looks like.  When I was doing it they said 30-45 days for the letter but were behind so it may be longer. Just a heads up though. 

Comment by Kevin - Greenville, SC on June 5, 2013 at 9:23am

Awesome Wendy!  I've done a few BOA HELOCS, but none in awhile.

Comment by Gregory J Bermes on June 5, 2013 at 8:25am

I cannot for the life of me understand why Real Estate Agents are so sympathetic to "Seller(s)", especially in a short sale. I fully understand SOME are actually experiencing a hardship, and cannot afford their mortgage. I also fully understand some are "abusing the system" (with your help I might add!). The short sale I purchased  was on a CW mortgage, The CASH money the homeowners received (125% of the home value) was used to purchase a different property, and they apparently had no intention of keeping the mortgaged property. Not only did they "walk away" from a 30K plus debt, they kept other property, and were paid by the Bank (incentive(s) to do so. If ANY of you think this is acceptable, or somehow an entitlement, I strongly urge you to  to consider a career change! Not everyone is honest and forthright folks! As a buyer, I look at the transaction from the Seller's perspective as well. I HAVE TOO, to make sure everything is above board and correct. Recently had a vacant lot purchase fall through because the deed was in both spouse's names, but only the male was on the Property Appraiser records. As soon as I brought that to the attention of the Selling Agent/Listing Agent, we went from "let me know and I'll prepare the contract" to "I pulled the listing" (over the weekend). Check, double check and then when you think you are sure, check one more time!! It will save you a LOT of headaches!

Comment by Wendy Rulnick on June 5, 2013 at 8:09am

Pattilynn - it's like winning the lotto in some ways. Wow.

Comment by Pattilynn Guilford on June 5, 2013 at 7:56am

Congratulations Wendy! I've been trying to get B of A to let me kill those helocs resulting in more money for them but if they want to extinguish the debt and it helps a seller - all good!

 

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