Hi Folks. If you are involved with any Bank of America Short Sales then you know that they have been using www.Equator.com to help make the process go smoother. My opinion is that it is working like a charm. Bank of America Short Sale approvals are coming in 45-60 days instead of the 6-12 months they used to take.

The Equator system is quite simple. Just upload the contract information and away you go. If you do your assigned "tasks" in a timely fashion you shouldn't have much difficulties.

However, you also have to make sure the Seller is doing their tasks on time. Sellers have to call into Bank of America to start the process as well. I usually have them do this the same day I start the Short Sale through Equator. When they call in Bank of America will give them a password and direct them to the consumer portal at www.BankofAmerica.com/ShortSale This site is where the Sellers will enter all of their financial information.

I like this new system a lot because I no longer have to handle the sellers tax returns, bank statements, pay check stubs and financial statement. BUT....it's my job to make sure they are prepared. First they have to be able to have all of these documents in PDF files to upload. One file for each document. If they don't have a scanner to do this they can email me the documents. Since I use an Efax it will automatically convert the fax into PDF files. I can then just attach the files to an email and send it back to my seller. They now have a PDF file to upload. Simple.

I also prepare them for the info that is needed by sending them this file. This way they can fill in the blanks BEFORE they log on to the Bank of America Short Sale portal.

Being successful at Short Sales is all about being organized and educating our Buyers, Sellers and other agents. I hope this helps.

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