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BANK OF AMERICA CHANGED THE LOCKS IN VACANT LISTING

Started this discussion. Last reply by IRMA KNIGHT Dec 5, 2012. 5 Replies

I got a Listing where the lien holder is Bank of America. The owner moved out and the bank changed the locks in the property. Can I still show and sell the property? The sale date is December 28,…Continue

I GOT A SS LISTING W/BOFA AS LIEN HOLDER WHEN I CALLED SS DEPT LOAN WAS TRANSFERED TO REDCO.

Started this discussion. Last reply by Edith Gingerich Sep 12, 2011. 5 Replies

I just got a Short Sale Listing with Lien Holder Bank of America. The Sale date is July 15, 2011. When I tried to upload the 3rd Party Authorization onto Equator. The sytem kept on Reading this Loan…Continue

Tags: DO, I, NEXT?, WHAT, REDCO.

 

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Brett Goldsmith commented on IRMA KNIGHT's blog post Reverse Mortgage Short Sale
"Reverse mortgage short sales have strict guidelines. No relocation incentive to seller and generally want an offer within 95% of the appraised value. IF you would like any support or have questions, feel free to reach…"
May 6, 2016
IRMA KNIGHT posted a blog post

Reverse Mortgage Short Sale

Hello everybody:I just got a listing on  a  Reverse Mortgage Loan and I will have to do a short sale because the owner owes more than the house is worth.  We are short by 20k. Does anybody here has done a short sale where the loan is a Reverse Mortgage?Is the process the same as a regular Short Sale? Thanks,See More
May 6, 2016
IRMA KNIGHT replied to IRMA KNIGHT's discussion BANK OF AMERICA CHANGED THE LOCKS IN VACANT LISTING
"Hello Ron: Thank you for your response. I do have an offer and I will change the locks. I will keep you posted."
Dec 5, 2012
Kevin - Greenville, SC replied to IRMA KNIGHT's discussion BANK OF AMERICA CHANGED THE LOCKS IN VACANT LISTING
Dec 5, 2012
Jeff Payne replied to IRMA KNIGHT's discussion BANK OF AMERICA CHANGED THE LOCKS IN VACANT LISTING
"Irma, you are the listing agent?  Who owns the property?"
Dec 5, 2012
TOP END Properties replied to IRMA KNIGHT's discussion BANK OF AMERICA CHANGED THE LOCKS IN VACANT LISTING
"Yes.  You should contact BOA Field Services and get a copy of the key."
Dec 5, 2012
IRMA KNIGHT posted a discussion

BANK OF AMERICA CHANGED THE LOCKS IN VACANT LISTING

I got a Listing where the lien holder is Bank of America. The owner moved out and the bank changed the locks in the property. Can I still show and sell the property? The sale date is December 28, 2012.See More
Dec 5, 2012
Edith Gingerich replied to IRMA KNIGHT's discussion I GOT A SS LISTING W/BOFA AS LIEN HOLDER WHEN I CALLED SS DEPT LOAN WAS TRANSFERED TO REDCO.
"I had a similar situation.  Submitted a short sale through Equator to Bof A, after several calls, emails and attempted communications as to why I could not submit offer and with B of A rep's giving me incorrect information as to…"
Sep 12, 2011
IRMA KNIGHT replied to IRMA KNIGHT's discussion I GOT A SS LISTING W/BOFA AS LIEN HOLDER WHEN I CALLED SS DEPT LOAN WAS TRANSFERED TO REDCO.
"Thanks for replying  to my question. I called REDC and they  told met hat my seller might qualify for HAFA program, (eventhough I had already  checked that his loan is not Fannie or Freddie) they asked me to "fax"  the…"
Jul 13, 2011
Craig Bartels replied to IRMA KNIGHT's discussion I GOT A SS LISTING W/BOFA AS LIEN HOLDER WHEN I CALLED SS DEPT LOAN WAS TRANSFERED TO REDCO.
"I have two short sales with Bank of America in the same situation.  I am still somewhat unclear on what and how REDC works, benefits, as they didn't seem to want to tell me on the phone. From what I have figured out, if a seller chooses…"
Jul 13, 2011
IRMA KNIGHT replied to IRMA KNIGHT's discussion I GOT A SS LISTING W/BOFA AS LIEN HOLDER WHEN I CALLED SS DEPT LOAN WAS TRANSFERED TO REDCO.
"Bryan: Thanks for the prompt response  to my question,  I goggled the name REDC and REDC is an auction company.  I will keep you posted with the outcome. Thanks again. Irma K"
Jul 6, 2011
Bryant Tutas replied to IRMA KNIGHT's discussion I GOT A SS LISTING W/BOFA AS LIEN HOLDER WHEN I CALLED SS DEPT LOAN WAS TRANSFERED TO REDCO.
"Hi Irma. BofA outsources to 3rd parties to handle some of their loans. HAFA short sales are almost always outsourced. As are their co-op short sales."
Jul 6, 2011
IRMA KNIGHT posted a discussion

I GOT A SS LISTING W/BOFA AS LIEN HOLDER WHEN I CALLED SS DEPT LOAN WAS TRANSFERED TO REDCO.

I just got a Short Sale Listing with Lien Holder Bank of America. The Sale date is July 15, 2011. When I tried to upload the 3rd Party Authorization onto Equator. The sytem kept on Reading this Loan is already in the system, then I called BoFA Short Sale Dep. and they told me that they were not handling that file, they directed me to REDCO ph# 877-579-6652. Before I call them I would like to hear from anybody in this group that has run across a similar situation. Thanks, Irma KnightSee More
Jul 6, 2011
IRMA KNIGHT is now a member of Short Sale Superstars
Jan 7, 2011

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First Name
Irma
Last Name
Knight
State
Ca
City
Upland

IRMA KNIGHT's Blog

Reverse Mortgage Short Sale

Posted on May 6, 2016 at 4:30am 1 Comment

Hello everybody:

I just got a listing on  a  Reverse Mortgage Loan and I will have to do a short sale because the owner owes more than the house is worth.  We are short by 20k. Does anybody here has done a short sale where the loan is a Reverse Mortgage?

Is the process the same as a regular Short Sale? Thanks,

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