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: 1980
Latest Activity: Aug 2

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

Short sale package

Started by Izabella Lipetski. Last reply by Izabella Lipetski Mar 11. 2 Replies

Where are the short sale forms now?

Started by Elva Branson-Lee. Last reply by Chris McGee Feb 10. 8 Replies

Pay off 1st in full and short 2nd and 3rd?

Started by Erinn Frisbie. Last reply by ElizabethWeintraub00697006LyonRE Jan 23. 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

Decline Letter ( failed internal quality review)

Started by Desmond Sinclair. Last reply by James ferebee jr Apr 19, 2016. 1 Reply

Servicer refuses to pay municipal transfer fee

Started by Jack Barry. Last reply by Thom Colby CA Brkr 888-391-5245 Dec 16, 2015. 5 Replies

Most Difficult Time with Communication with BOA

Started by johnna lodge. Last reply by ElizabethWeintraub00697006LyonRE Nov 24, 2015. 3 Replies

Comment Wall

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Comment by Helena Kaucheck on March 27, 2017 at 7:04am
Jim, if there's a decrease in the Net, the approval will have to change and that's what could take on a new review. Generally, it doesn't take as long as the earlier process but it depends on a few factors. One may be whether the value is expiring. Others are if investor has flexibility in the margins, how long the documents used for approval are considered valid before expiring. However, there are investors who are open to a change in net for material issues - but on a case by case. And will take time to get re-approved as any change again will require the investor to approve.
Comment by Jim Phillips on March 27, 2017 at 6:23am

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?

Comment by Vikki Lucas on January 24, 2017 at 8:17am

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.

Comment by Brett Goldsmith on January 13, 2017 at 3:09pm

@melanie BOA still uses Equator. BAC Short Sale Addendum and Authorization can be found on their site.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Melanie Ross on January 13, 2017 at 11:14am

 Folks,

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!

Comment by Elva Branson-Lee on December 8, 2016 at 7:35am

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?

Comment by Helena Kaucheck on November 30, 2016 at 12:53pm
Brian, if I understand, you're looking to see if the hr lien would accept a short payoff to lien release. I did have a short payoff a while ago but not with Bank of America. I recall that it was a struggle but only because of the % the lender/investor demanded to release their lien. I think it was somewhere in the neighborhood of 60+%. I had a file that was declined by the BofA first for a similar reason and I approached the Jr lien -BofA also to determine if they would do a short payoff. Their response was unattainable by my client. Not sure if you've addressed this situation with Nationstar but if first contact then to see if this is possible. Since you know the investor a call to them may help but in my case I connected with BofA as a servicer. Not sure if this helps.
Comment by Brett Goldsmith on November 30, 2016 at 12:45pm

@brian Are you simply trying to settle the 2nd for a cash lump sum? The stars need to align with LTV, 2nd lien loan status, investor guidelines, to complete 2nd MTG settlements. 

I wouldn't consider this a short pay as the home is not selling.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Brian Burry on November 30, 2016 at 12:14pm

Has anyone ever completed a 2nd TD "Short Pay" with Bank of America? I have successfully done this with underwater 2nd's with two other lenders, to allow the Owners to Retain their homes.  Nationstar is servicing the 2nd for B of A and since Nationstar turned down the FreddieMac 1st Short Sale saying too much income when the owner is a documented 90% Debt to Income ratio. So, in order to keep the property, the Short Pay on the 2nd is what is being sought.  So any help would and direction is appreciated.

Thank you so much

Brian

Comment by ElizabethWeintraub00697006LyonRE on November 8, 2016 at 5:56pm
 

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