Comment

Comment by Stephanie Hart CA 310-930-2342 on June 21, 2012 at 4:18am

Anyone have one of the batch letters that was sent to homeowners regarding the new Global Settlement program. My client called BAC and "surprise" they hadn't any clue about the requirements. But they stated letters were sent out to home owners that were at least 60 days late. They really want the principle reduction (along with the rest of the planet). If any of you could email me one I'd greatly appreciate it. [email protected]. BAC said they would call her back (yeahhhhh right). Thanks!

Comment by Kevin - Greenville, SC on June 21, 2012 at 4:10am

@Dean - 

Important Update: Bank of America is offering some FHA Borrowers an additonal $4,000 in relocation assistance.

http://www.americanbanker.com/issues/176_151/stevens-fha-bank-of-am...

Comment by Dean E Eshelman, CPA, CDPE, IRES on June 21, 2012 at 4:02am

@Jim Schneider -- What do you mean by "the settlement between HUD and BofA"

@Joshua Slipkow Esculate to HUD by calling them directly. I have a great success in doing this.

Comment by Joshua Slepkow on June 21, 2012 at 3:49am

What is the best way to escalate to HUD? Contact HUD or request through BoA?

Comment by Pattilynn Guilford on June 21, 2012 at 2:06am

'Like" and ty Kevin

Comment by Jim Schneider on June 20, 2012 at 7:40pm

Just closed a Bank of America short sale on an FHA loan in Chicago, IL. My client got $4000 due to the settlement between HUD and BofA. Much thanks to Kevin M. Lancaster for saying this might be out there.

 

My advice on those of you with FHA deals with Bank of America, you have to escalate to HUD, it's really the only way to keep them moving on the files.

Comment by Sheila Vardakis on June 18, 2012 at 9:17am

Sue,

 

I have printed out the email log that I have for a particular file in order to show the buyers agent the list of events that have taken place to get where we are at right now.  I know that it takes time to run the title comittment for the contract before a HUD1 can be completed.  Once that is done then the process begins.  Kansas City is moving big time so it is taking me 10-12 days to get the contract and HUD1 uploaded and to the bank. 

Comment by Paola Martinsen on June 18, 2012 at 4:25am

Does anybody know if Gary Haygood is still working with BAC? He was a VP for private investor portfolio. I need to escalate a private investor file that was accidentally declined during a value reconciliation.  

Comment by Julia Huntsman, 562-896-2609 on June 18, 2012 at 4:13am

Unfortunately the addendum says no proceeds are to come from the transaction, which is a problem for California escrows when banks also promise relocation funds to the seller. The banks don't offer alternate language in these cases which they should. 

Comment by Wendy Rulnick on June 18, 2012 at 1:45am

Thank you, Tni LeBlanc, for sending us the new BOFA Agent Certification and Short Sale Addendum forms for the Bank of America group!

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