Need Help please. How do I handle a junior lien with B of A

Just found out that we have a second loan to negotiate with Bank of America.  I have never worked with them before.  Do I still initiate through Equator or do I use the HELOC package that is under the Lender Info links?

Thank you for your help!!

Heather Gennette

P.S. Short Sale Superstars is the website I turn to for all my short sale questions!!

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Permalink Reply by Kristy Hamilton on June 17, 2012 at 5:29pm

If it is a HELOC, you fax the package to the HELOC BOA dept.  If it a 2nd mortgage, same amount of digits in loan number as a 1st, you can use Equator or fax to the same number used for a 1st mortgage with BOA.  You will need the same 5 (if already have a contract) docs if faxing as you need to initiate in Equator.  If you don't yet have a contract, be sure to get the BOA third party auth and 4506-T.

 

Permalink Reply by diane campos on August 24, 2012 at 3:49am

Looking for some help I have same situation I believe as yours, enough to pay off first but not enough to cover second with B o A, any insight would be appreciated.  Hope it went well for you.

Thanks

Diane Campos

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