Comment

Comment by Jennie Blackburn on October 15, 2010 at 8:35am

Derek,

With those guys? That's just the first salvo across the bow. Some ridiculous number. So call their bluff. Pole vault to the next level inside BankAtlantic!

Comment by Derek on October 15, 2010 at 8:19am

I need help with Bank Atlantic. They claim a property that has sales in 40k-50k range needs an offer of 87k. I sent them a list of all the homes sold in the last year (22 in total) and all of them were in the 40k-55k range. They have yet to respond, or answer my calls. Any advice.

Comment by Jean Beymer on September 16, 2010 at 11:21am

I finally closed a short sale with Bank Atlantic as the investor on the first.
The first offer was flat out declined and they were going to receive a high payout.

The second offer was increased $50,000. Purchase Price of $790K (amount owed $860K). We did a lot of negotiating and reduced our commission to 5%.
The 1% reduction was negotiated and given to the second (BofA) which was needed to get BofA to sign off. Bank Atlantic would only give $3K to BofA.

We received "no deficiency" language in the approval letter from Bank Atlantic.

We were only able to get a lien release from BofA and a very good balance reduction with terms that would discount again at 50% if they paid in a lump sum at sometime in the future. 0% interest 30years.

Comment by Jennie Blackburn on August 18, 2010 at 8:21am

I am dealing with Bank Atlantic on a 2nd mortgage and they are wretched.

Comment by Jean Beymer on April 27, 2010 at 5:06am

Anyone have experience negotiating with Bank Atlantic on a very large first loan?