This group is for information, tips and solutions for Bank of America Short Sales.
Latest Activity: Oct 27, 2022
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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
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]
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Teresa my answer depends on what type of loan it is. If the answer is its govt backed then I tell them no. Fannie and fha and va allow up to 6%. I know b of a has there own rule about that saying they can reduce. I just went thru this last month with them and they didn't bring this up until the approval was written. I countered back that they were dealing in bad faith since they say the listing when this whole thing started. 2ndly I brought up allowable commision to % and they backed off of the 4% for dual agency and gave us the 6. Sometimes you just gotta puff your chest a little and hit them back with the rules that are already in place
@Teresa if you have your broker rewrite the contract for the buyer they may pay 5%. Not sure if that makes sense and be careful as it could delay the file, etc and not sure when your value expires, etc. BOA does like to cut commissions based on a variety of factors.
@Teresa Trigas-Pfefferle Are you the agent on both sides or is someone in your office the other agent? Did you complete a Dual Agent disclosure? Consider being a transation broker. That is how we used to get around this. @Jeff Payne -- can you comment on current status. http://shortsalesuperstars.com/group/bankofamericashortsales/forum/...
I have a dual agency situation. BOA wants to reduce my commission from 6% to 4%.
inexplained that I have a buyer agency agreement and that I am requesting 5% based on that agreement as by law I cannot collect from buyer in a dual agency. The thing is buyer is willing to pay their price. They are saying no. Amy advice?
I represent the buyer in this one.
We received BoA SS approval and started inspections.
6K worth of pest damage discovered under the house.
The sellers' negotiator says that if the buyer requests a credit that she has to start over with BoA. The first negotiation took 6+ months (2 loans)
Is this true?
Just started up my first traditional Bank of America short sale post-HAFA. I inquired as to the "RMA" required. Here is the response I got from the negotiator for my file:
As you said since HAFA has gone away we won't have to use the RMA form. You may simply have your Seller create a Hardship letter. The letter needs to be wet ink signed and dated and have the address and loan number of the property.
@melanie BOA still uses Equator. BAC Short Sale Addendum and Authorization can be found on their site.
Since the link for the forms is not working, where are you all going to get the latest information for Bank of America and all forms? We have a new short sale that is a first. Also they are still using equator? Thank you!
Thanks, Elizabeth Weintraub, for the form links. I finally got some forward movement on a stalled BofA HELOC short sale (2nd) by using Twitter and Facebook (info has been added above). Unfortunately, it seems to be stalled again. This has been goin on sinvce July 26th. All docs have been completed and returned as requested. Currently working with a short sale/dil specialist II who is not responding to communication. What is a short sale/dil specialist II? Who does this employee report to? I need to talk to someone with juice. Anybody have a corporate contact that could actually get this transaction moving to resolution?
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