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 Jim Stewart on July 16, 2013 at 5:54am

B of A seemed to be getting better but seems to have taken 10 steps back in the last year. Especially on FHA.  Am I the only one why can't get a final approval of an offer that fully meets the ATP?  On month five now and still no approval even after escalating.

Comment by Catherine Gheen on July 16, 2013 at 5:42am

Don't you love it when you get a negotiator contradicts the way things have been done in the past?  It seems lately B of A has put in newbie negotiators who don't like it when experience short sale agents do what we are trained to do.  You can call the president's office to complain, or escalate through Equator, I have never heard that you are jumping the gun if you list before the homeowner receives the letter in the U.S. mail?  I send my sellers the letters digitally all the time?  Maybe she has not had enough coffee to wake up yet?

Comment by Jan Sanderlin on July 16, 2013 at 5:36am

Gee and all of this time I thought that the sellers owns the property and the quiet enjoyment there of and the bank owns the note that secures the deed.  How wrong I must have been, WRONG...this is just too messed up for words...I'd be emailing the FDIC, the OCC, my senators and an attorney, and anyone else who could do something about this...You would think that BofA is in enough hot water with their antics without creating more. Really??? Really???

Comment by Wendy Rulnick on July 16, 2013 at 5:18am

Bank of America negotiator A gives me a COOP list price in writing in EQUATOR ,"Here is the list price!" we get a contract, there is a new negotiator. She says I didn't have "real permission" to list the property, as they had not issued a "letter". She is threatening to pull the file from COOP and says I jumped the gun. SHE WRITES: Hello Wendy, I already received your message from earlier this morning. Please be advised that I am on pacific time and was not in the office at 3am when you sent the first message and I have only been in the office 40 minutes thus far. Again, you cannot have a contract prior to us sending you a value letter and agreement. You jumped the gun and I'm attempting to assist you with that as opposed to telling you "no", we will not move forward which I am able to do as this is outside of the cooperative short sale guidelines whichwe must enforce." OUCH OUCH OUCH!! 

Comment by Kevin - Greenville, SC on July 15, 2013 at 8:20am
Comment by Jilly on July 15, 2013 at 7:57am

Of course they will confer with their accountant. And I am not trying to give tax advise. But just as the bank generates a payoff when a traditional sale takes place, the bank should be able to generate a 1099C estimate before closing (or actual after closing which is tomorrow).

Comment by Pattilynn Guilford on July 15, 2013 at 7:30am

Well, no one really does tax computing until its tax time. The bank is obligated to send a 1099 C by Jan 31st so go with the vague computation. Better yet .. have your sellers confer with their CPA or tax attorney who have much more experience than a bank processor or a real estate agent.

Comment by Jilly on July 15, 2013 at 7:21am

Trying to get the 1099C amount from BofA.  We are about to close a BofA FHA.   My clients had a job transfer and rented the home for a year. FHA allowed them to short sell. Having properly reported the rental income on their taxes they may not be able to enjoy the protection afforded primary homeowners. (I appreciate they may well be insolvent and discharge that way, but we should still be able to get a statement from the bank.)  

 I have just been given only vague direction from the 1099 dept. via the closer who said

"The basic formula is Unpaid principial balance – net proceeds – incentive (if any) – prom note (if any).  

Anyone?? 

Comment by joe beauchamp on July 12, 2013 at 4:21pm

Barb, this sort of thing has not been unusual in the last year. tweet BofA_Help to get the file back from NSTAR - This has been done before if you fight enough, etc., especially with approval in hand. Go to the investor (HUD if FHA) directly and ask for help to get it closed. You might get some traction by complaining that they are doing this to a military person - there are some special rules.

The problem and solution are clear - maybe enough to easily get a state senator involved - they seem to have some weight with these banks - although, you don't know if the bank sold the file to NSTAR or the investor pulled it from BofA - could be either. Yelling at BofA may not help as much as getting on the back of the investor - it would be good to know which (no, you can't believe the negotiator).

Comment by Rachael Babinchak on July 12, 2013 at 3:41pm
Re:service member denial- If its a GSE, try an appeal there (I.e help ticket to FHA). Concurrently, the owner and/or yourself write this in complaint/appeal letters to FDIC, OCC, Consumer Financial Protection Agency, and the Dept of Justice, along with Twitter and FB. Stat.
 

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