Bank of America Short Sales

Information

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: 1030
Latest Activity: Mar 14, 2018

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, 2014. 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 ODea 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

Comment

You need to be a member of Bank of America Short Sales to add comments!

Comment by Gloria Oquendo on October 29, 2011 at 3:08pm
Unfortunately BOA has a different departments who are working with and it is depend of the type of loan, you can call at costumer service or initiate a chat on equator system, they will help you right away.
Comment by Lehel Szucs on October 19, 2011 at 6:51pm
I agree with Jacob .. working through equator has been really easy ... especially int he last few months ...
Comment by Tamra Simons on October 19, 2011 at 6:47pm
@ Angela, I escalated the file on Friday of last week and received a response this afternoon, BofA requested 3 more documents and then the short sale will be approved, and we can finally get this process moving forward. Some deals are easy and go fairly smooth and then there are some that throw us agents curve balls just to keep us on our toes. Thank you for all your suggestions, much appreciated.
Comment by Jacob Wiggins on October 19, 2011 at 6:35pm

I have delt with BOA for years and especially thru Equator.  If anybody would like, they could call me at 919-219-9533-Cell or tommorrow morning or anythine tommorrow at 919-553-2389-0ffice, and I will be glad to tell how the process works and answer as many questions as I can.  BOA is actually easy to deal with once you understand the equator system.

 

Thanks, Jake

Comment by Angela Alfe on October 19, 2011 at 1:59pm
@ Tamra, who did you hear this from?  You may need to escalate to a higher person to get this wiped out.  It may be "stuck" somewhere.  This happened to me and by escalating, it got it moving in the right direction, again.
Comment by Mark Smith CDPE SFR on October 19, 2011 at 1:38pm
Craig I agree.  I have had to also run down the local locksmith to return my supra box.  Because of these experiences I like to avoid these silly time consuming issues up front if possible.
Comment by Craig Bartels on October 19, 2011 at 1:30pm
if they change the locks, I just call the banks preservation department and they mail me a key via fedex(at least BofA does).   I wouldn't expect the person coming to change the locks to just leave and not change as requested by their vendor because a sign is in the yard...they are just doing what they have been told and have no idea what is going on in the background.  They are just told to change locks at property address ....and go do it.
Comment by Mark Smith CDPE SFR on October 19, 2011 at 1:26pm

Phil,

My thoughts are the bank is a very large unorganized multiple entity that is not able to handle the disposition of distressed property.  Most departments do not communicate with one another.  It is not realistic to expect that level of communication.  I try an share information to the servicer as required to get them to help me sell the property.  If I don't want the locks changed, I provide specific information to them up front so I don't get the surprise later. 

Comment by Tamra Simons on October 19, 2011 at 12:56pm
@ Angela, Sellers have been through the Loan Mod program twice and each time they have been denied, How many times does this have to happen? I'm aware they must go through the Loan Mod program first but three times is rediculous.
Comment by Mark Smith CDPE SFR on October 19, 2011 at 11:53am

Phil,

Servicers will occasionally do a drive by BPO to check for abandonment.  They do not care about a sign in the yard.  If you have not told the bank any different, they have the right to preserve the property to protect their interests.  Sometimes it can be a god thing, as property preservation can be leveraged to winterize, clean out, maintain the yard, cover the pool etc.  As stated earlier if you don't want this to happen, you must make the servicer aware the property is being maintained.

 

Members (1030)

 
 
 

Discussion Forum

BofA Escalations - any goo dsuggestions?

Started by Olesya Drozdova. Last reply by Rozalyn Franklin Mar 3, 2014. 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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