Bank of America Short Sales

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Bank of America Short Sales

A place to discuss Bank of America short sale programs and share information and help to get mortgage short sales approved.

Website: http://www.short-sale-specialists.com
Members: 1027
Latest Activity: Aug 7

Find A Bank of America Short Sale Realtor

We are NOT Bank of America. If you are a confused agent, CLICK HEREto be put on the right track.  The report below is for consumers who are interested in "How To Do A Short Sale" or those who are interested in finding a Bank of America short sale agent.


How To Short Sale A Home


Bank of America Short Sales

Below are all of the contact numbers needed to do a short sale with Bank of America. Visit www.short-sale-specialistsif you need to find an agent to help with your short sale.

 

800-846-2222
General Info: 800-285-6000
Fax: 716-635-7255
Bank of America Short Sale Department: 866-880-1232
Bank of America Loss Mitigation Department: 800-846-2222
Bank of America Home Retention Department: 800-633-4510
Heloc Fax: 704-208-1350
Charge-Off Dept: 800-851-4032 opt. 2
Short Sale Department for Freddie Mac loans: 877-444-8291, option 4
Foreclosure Department: 800-669-6650
HAFA Phone: 800-669-0102
HAFA Fax: 800-596-8395

 

Bank of America Short Sale Package and Bank of America Short Sale Requirements
(for 2nds and HELOCs only)
Bank of America FHA Loan Short Payoff Request Short Sale Package
 

Bank of America Short Sale Escalation Webtool Quick Reference Guide

Find a local Short Sale Expert!

 

 

Share your information and experiences with Bank of America Short Sales

Discussion Forum

BofA Escalations - any goo dsuggestions?

Started by Olesya Drozdova. Last reply by Rozalyn Franklin Mar 3. 5 Replies

Hi, I had a pre-approved coop BOA short sale, was waiting for the final approval on the offer we received, spoke to a DTS negotiator, ironed out all the wrinkles, when all of a sudden received a…Continue

Preapproved shortsale

Started by JILL BERNI. Last reply by Douglas Heise Aug 25, 2013. 9 Replies

My seller didn't qualify for HAFA so we switched to the co-op pre-approved price programbefore I put it on the market. I got a call just now from the negotiator who wanted to "warn me"that she is…Continue

Bank of America Co-Op program nightmare

Started by Ana Huffer. Last reply by lynnette shifman Aug 21, 2013. 3 Replies

I have a short sale that I initiated in December.  The seller was accepted in to the co-op program and I was given a suggested list price.  The property was listed and because the sale date was…Continue

Dignified Transition Solutions

Started by Andrew Sawyer. Last reply by lynnette shifman Aug 21, 2013. 8 Replies

what is this?Continue

Bank of America, FHA PFS and Equator

Started by Kevin - Greenville, SC. Last reply by lynnette shifman Aug 21, 2013. 1 Reply

Good Morning!That is a valid rumor! We are testing the system now. About 100 loans that were initiated on Friday were put onto equator. Once we are comfortable with loan performance we will move all…Continue

Tags: america, equator, of, bank, short

Bank of America FHA Loan Short Sale

Started by Terrence D. Langford. Last reply by Terrence D. Langford Jun 19, 2013. 4 Replies

 I listed my client home with (Bank of America) as a FHA short sale. The owner who has defaulted on her mortgage payments and has failed two loan modification guidelines. We have a short sale and a…Continue

Can HIN Bank of America incentive be used to increase the Net (or raise the purchase price?)

Started by Elizabeth Kayser. Last reply by Celeste O'Dea Dec 3, 2012. 10 Replies

Can HIN BofA incentive be used to increase the Net (or raise the purchase price?).  We've been told by LRC it cannot?Elizabeth Kayser, Esq.Continue

Bank of America Daily Per Diem Charges for Closing Extension

Started by Russ Colomo. Last reply by Ann E Richardson Nov 13, 2012. 1 Reply

I have a COOP approved short sale, buyers have requested two extensions to the original close date.  Approval letter states BofA will charge daily interest through closing for closing…Continue

Tags: america, of, bank, diem, per

Auction

Started by Sharon Sapp. Last reply by Sheyenne Schultz Nov 4, 2012. 22 Replies

I have a co-op BOA short sale listing. We've had a few price reductions since it was listed in Feb, but it's still a bit high. Even cutting my commission, if I lower it any more, they won't make…Continue

Tags: auction, sale, short, BOA

COMMISSION REDUCTION to 4% FOR DUAL AGENCY

Started by Antonio Martinez. Last reply by Garett Chadney, SFR Oct 17, 2012. 6 Replies

Does anyone know the legal way (not using another agent) to get at least 5% or 6% for selling your own listing.Continue

Comment Wall

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Comment by Janet Fuller CDPE, HRC, ABR on April 9, 2013 at 11:47am

I have dealt witha number of coop short sales in last few months - most are nightmares.  The set price is the lowest they will take and if the BPO expires, there goes the pricing.  I escalated a file and it was removed 3 times form 3 different 3rd parties and now the escalations specialist has it and within 3 days it was sent to the investor - Joe is correct in the valuation dispute with FNMA or FREDDIE will cause you heartburn...I have 3 others on my authorized parties and we call daily often 3 times a day - Email Bombs can work too - I sent 25 emails of the same email and finally a call back by negotiator - wondering why my email came through 25 times.  Whatever works I say!    A few RE companies have their own escalation tool -try it

  1. http://realestateagent.bankofamerica.com/shortsaleescalation
Comment by Angie Freeman on April 9, 2013 at 11:38am

And the issue with Bank of America continute..... I have another SS with them.... a CO-OP short sale.  The buyer's offer was $2k under the list price set by BofA.... redy for this........ They countered!!!  $15k higher than the suggested list price!!! WHAT A JOKE??  I just don't understand why they even bother setting a list price when they just countered it? Makes NO sense to me..... anyone else had an issues like this?  If, not BEWARE! It's coming......

Comment by Joe Beauchamp on April 2, 2013 at 3:05pm

Angie, keep calling in and making sure that the rep puts in a note that you called and are concerned that it has stalled - the notes help. But also tweet @BofA_HELP directly with your phone number and property address. They seem to be pretty good at rattling cages from time to time. You should know who is handling your co-op - REDC has been horrible and good for me, depending - for instance. You should also know your investor - FNMA - well, go get a beer instead of trying to get a reasonable counter (see how knowing helps?).. Just like every shoot-em-up, with these banks you need to "apply steady pressure" to the wound...

Comment by Angie Freeman on April 1, 2013 at 9:41am

I have a Bank of America co-op short sale that was initiated without an offer..... I have had an offer for over a month now and the status in Equator says  offer analysis;approval requested.... when I call I am being told that a task needs to be completed - this still has not been done.  I have escalated this matter to a supervisor and still nothing..... Any suggestions??

Comment by Lisa Jones on March 25, 2013 at 5:26pm

I suppose anything is possible, but in my experience, BOA will not allow the Buyer to walk away with any money on the HUD. The amount will need to be zero.

Comment by Sara Mehrpouyan Los Angeles CDPE on March 25, 2013 at 2:39pm

Let's say that B of A will not allow the Seller to participate in HAFA short sale because they are too close to a trustee sale date. Has anyone seen B of A allow the Buyer to contribute to the seller's relocation-- in other words-- the buyer comes in with extra cash for Buyer to relocate and it's on the HUD & B of A allows it? Appreciate your feedback. Thanks.

Comment by Lisa Jones on March 22, 2013 at 6:07pm

Email me at ljones@tomgrizzard.com. I have a contact.

Comment by Angie Freeman on March 22, 2013 at 4:13pm

Does anyone have a contact for the CEO of BofA - I have a file with REDC... and it has stalled.

 

Comment by Emmanuel (Mannie) Makhathini on February 19, 2013 at 3:38pm

Hi Susan, I had a similar situation with REDC handling one of the short sales I was working on. I escalated the file with B of A and they immediately pulled the file and reassigned it internally.It was reassigned within hours after I submitted the escallation. You should try that first and see if it work for you.  Good Luck!

Comment by Sharon Sapp on February 19, 2013 at 3:34pm

I'm having problems w/ REDC myself. Submitted an offer, they countered, we accepted the counter. They wanted a few things moved to different categories on the HUD and a statement from the seller saying they will pay the few title company fees BOA won't allow. That was done on 2/13. Can't get a response back from them. They don't respond to emails. This is a co-op short sale and it is in equator. Just sent an email back to the negotiator and copied the team leader, asset manager, VP and anyone else I thought would help and still  no response. Any suggestions? Believe it or not, I have mortgage commitment already - just waiting on the results of the inspections which I can't schedule until I get bank acceptance. The buyer's lender paid for the appraisal and will only get it back from the buyers once the deal goes thru.

 

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Discussion Forum

BofA Escalations - any goo dsuggestions?

Started by Olesya Drozdova. Last reply by Rozalyn Franklin Mar 3. 5 Replies

Preapproved shortsale

Started by JILL BERNI. Last reply by Douglas Heise Aug 25, 2013. 9 Replies

Bank of America Co-Op program nightmare

Started by Ana Huffer. Last reply by lynnette shifman Aug 21, 2013. 3 Replies

Dignified Transition Solutions

Started by Andrew Sawyer. Last reply by lynnette shifman Aug 21, 2013. 8 Replies

Bank of America, FHA PFS and Equator

Started by Kevin - Greenville, SC. Last reply by lynnette shifman Aug 21, 2013. 1 Reply

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