Replies to This Discussion

Permalink Reply by John Edelman on March 20, 2010 at 9:07am

You do not have to pay with Equator - just go on line and sign up. If you are interested in possibly receiving referrals thru the system, then you pay for certain areas you want to be listed in. Don't know how well this works as I have not done the referral part.

Permalink Reply by Victoria Frieberg on March 20, 2010 at 9:07am

Just checked, and sure enough, I am still on Reotrans/Equator!..But, do not see a short sale portal for GMAC at all..hmmmm

Permalink Reply by John Edelman on March 20, 2010 at 9:10am

I have not had to use Equator for my GMAC short sales yet - although it looks like other agents are having to. You are right, I only see a portal for B of A on Equator. You may need to contact GMAC to see what's up.

Permalink Reply by Juan Reyes on April 7, 2010 at 4:04pm

I haven't had to use Equator for GMAC, and on one deal I just had another company call me today saying they are handling the short sale on behalf of GMAC. I posted a discussion about it if you want to look read it.

I've heard other people on here say that they have called Equator to have them manually initiate the GMAC S/S and have it assigned to you.

Permalink Reply by YOUSUF CHOUDHRY on April 21, 2010 at 8:02am

I just started a short sale with Equator for GMAC on the 04/04/10,First just sent my Third party authorization to GMAC,next day negotiator called me and she assign me that short sale to Equator (at the same time she ordered BPO) and there they ask you to upload all required docs,and you good to go.

Permalink Reply by Cathy McAulay on July 11, 2010 at 4:30am

I am working on a short sale with GMAC (2nd). When I first began to talk with them, they only wanted the listing agreement and would get back to me to enter all information into Equator. But.....after MANY calls to them, found out they changed their process and are no longer using Equator?? They will do nothing & want nothing until we have an offer.

Permalink Reply by Brigitte Powell on July 12, 2010 at 9:02am

Did you say GMAC is no longer using Equator?? I am in Equator with GMAC. I think you won't see it until you have an offer and then you will be "invited" LOL!!!!

Cathy McAulay said:

I am working on a short sale with GMAC (2nd). When I first began to talk with them, they only wanted the listing agreement and would get back to me to enter all information into Equator. But.....after MANY calls to them, found out they changed their process and are no longer using Equator?? They will do nothing & want nothing until we have an offer.

Permalink Reply by Brigitte Powell on July 12, 2010 at 9:07am

By the way, the declined the offer because the investors wanted 7,000 from the Seller and tht's not going to happen, ever. they wanted 13,000 over assessed value :-) and in our area, that's a joke. I put it back in MLS at the price they wanted and released the offer. Last week I received an email thru Equator.com from the negotiator asking for an update on the listing. I told him that since I put it back in at a higher price we have not had one showing. He indicated that a new BPO will most likely be done after the 17th when the one they have "expires" - we will see what happens then.

Brigitte Powell said:

Did you say GMAC is no longer using Equator?? I am in Equator with GMAC. I think you won't see it until you have an offer and then you will be "invited" LOL!!!!

Cathy McAulay said:

I am working on a short sale with GMAC (2nd). When I first began to talk with them, they only wanted the listing agreement and would get back to me to enter all information into Equator. But.....after MANY calls to them, found out they changed their process and are no longer using Equator?? They will do nothing & want nothing until we have an offer.

Permalink Reply by Brigitte Powell on July 12, 2010 at 9:12am

You will get an email from the negotiator telling you to sign up on Equator.com. First instruction will be to enter the third party agreement (allowing them to speak with you) and you will then agree to accept the short sale with them.
You can't just go on Equator.com, find GMAC and sign on.... GMAC (the negotiator) has to make that access available to you. At that point you will see GMAC on Equator.com and will be asked to enter items.