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 Nathan Watanabe on January 14, 2011 at 8:07am
David Dee, you should be able to "fast track" that file get in touch with your negotiator and ask him fast track it through Equator.
Comment by Bryant Tutas on January 14, 2011 at 7:22am
Julia. The funds should be wired to the closing agents account NOT Bank of America..
Comment by julia hwang on January 14, 2011 at 7:03am
I have a question about wiring the fund before closing. Could you let me know if the buyer for the short sale usually wire the fund to bank of america account (not to closing attorney's account) 48 hours prior to closing? Thank you for your reply.
Comment by Carol Muir on January 14, 2011 at 6:31am

Hi Rhonda, 

$30k from the seller is correct. There could be other charges, send BOA an email  asking for a payoff and your concern about the amount owed. After you receive that discuss with your seller and Buyer's agent and make a counter counter offer on both the $80k and $30k based on what the seller and buyer can afford.

Comment by Rhonda Burgess on January 14, 2011 at 5:24am
I just got a counter-offer in equator on a short sale I've been working on for months. I just want to make sure that I'm reading this right.  They countered back raising the purchase price to $80000 to the buyer and under "cash contribution" they put in $30000.  They are expecting that $30k from my seller right??? The $80k and the 30K are more than he owes on the property in the first place. Am I misreading this?  This is my first one thru equator.  Thanks in advance for your help.
Comment by Jeff Payne on January 14, 2011 at 4:32am
MaryAnn, That payment would have to be on the HUD and it is highly unlikely if no impossible to get the first lien holder to approve anything more than 3,000 up to maybe 6000 to release the sec0nd lien.  Listing agent really does not sound like they know what they are doing in my opinion.  the only thing that would change this is if the first is not short, only the second....  more information needed...
Comment by Jeff Payne on January 14, 2011 at 3:42am
Bryant and David, sometimes they will substitute a buyer if the file is with the correct person but it is rare.  I met with a VP at BofA a few months ago and she said they are working with Equator to streamline these situations so all they will really need to do is take a look at the new contract and HUD-1 and verify that it is an arms length transaction.  Hopefully that will happen soon. I am meeting with them again next month and will verify
Comment by Bryant Tutas on January 14, 2011 at 12:46am
David. Unfortunately they won't. You have to resubmit. I've tried several times to swap out a buyer to no avail. It was quicker just to resubmit the deal in Equator.
Comment by David Dee on January 13, 2011 at 8:11pm

Have a shortsale where we received the approval letter from BofA. Problem is buyer walked and so we put it back on the market. Got another offer in quickly with same price and terms as the shortsale approval letter. Letter states buyer shown on the letter cannot be replaced without approval from BofA. How soon would it normally take for BofA to send an updated approval with same terms and price shown on the 1st approval? The only difference being the new buyer? Thanks

Comment by Ben Benita on January 4, 2011 at 4:04am

4 years is impressive, my top two are 41 payments and 39 payments behind....I tell all my clients I would sign up ALL DAY if I knew I could skip the next 3+ years of payments.

 

As you noted, BoA made KILLING on that in servicing fees....explains why they just paid more than $3 BILLION this QUARTER to settle some of the foreclosure BS they caused (I also know the first quarter of 2010 was the BEST QUARTER EVER for BoA as far as profits.....

 

Just another reason to hate them!!!!!

 

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