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: 1029
Latest Activity: May 27

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

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Comment by Sharon Molnar on August 28, 2012 at 12:11am

Should be.

 

Comment by Sheila Vardakis on August 27, 2012 at 11:11pm

thanks Sharon................I am having an issue with an FHA appraisal.  is this the same number to call for that too?

Comment by Sheila Vardakis on August 27, 2012 at 11:10pm

Oh ok..............well the good news is.................IT DOESN'T MATTER if the homes is short sold or foreclosed on.............both ways of selling can cash in on the PMI. 

 

 

Comment by Sharon Molnar on August 27, 2012 at 10:52pm
If you encounter issues with FHA or VA short sales, you can seek assistance directly from HUD or VA.
HUD (for FHA short sales): when you call, tell them you need to open a ticket.
FHA Resource Center 1-800-225-5342, Opt 3, then Opt. 4
FHA National Services Center 1-888-297-8685
Comment by Sheila Vardakis on August 27, 2012 at 9:16pm

Phil, PMI does not pay the lender the loan in full from what I have been told.  It also doens't matter if the bank foreclosures or short sales the home, the payout from the mortgage insurance company is the same.  The gamble is on the lender to determine if they will get a better price with short sale vs foreclosure.  Please correct me if I am wrong. 

Comment by Bill Black on August 27, 2012 at 7:25pm

Julie- Has the seller requested a short sale and has the servicer issued a PFS. 

Phil- I do not doubt that B of A stated that but FHA insurance is quite different then PMI as it is "self insurance" so its not like a third party is paying this. FHA short sales have specific rules that servicer are sometimes ignorant to so try to learn them and you will find that you are educating the servicer and proving this with Mortgagee Letters that state how the short sale needs to be managed from the servicer. FHA%20pfsfact.pdf

Comment by Julie Tinkey on August 27, 2012 at 7:08pm

Thanks Phil, that make sense to me.

 

Comment by Julie Tinkey on August 27, 2012 at 6:17pm

Need Help with FHA short sale serviced by BofA. I have a friend that has had her house under contract since 4/4. BofA had done nothing but jerk her around. Everything was done that needed to be, file was esclatated etc. and still NOTHING. It was transferred out of short sales and back to Customer Care because no one ever opened the file. It has been a month and the Customer Care person will not call her or her agent back. Several messages have been left with supervisors etc and still nothing. Any suggestions??

Comment by Sharon Sapp on August 27, 2012 at 4:39pm

Well, my BOA auction was a bust (surprise). The bidding was supposed to start 8/22. I gave auction.com all the  paperwork required for a PA sale. Went to check the progress on 8/23 and it wasn't listed there. It wasn't on equator, either. Spoke to auction.com and they said it was a bank owned property and the seller pulled the listing. After some debate, they said management would call me back but never did. Tried to call the BOA negotiator and her voice mail box was full. Sent an email asking what was going on and several hours later, get an email from equator to upload the docs again. Auction.com sent an email apologizing for the confusion, but BOA took it back for further valuation. HUH? Had 4 buyers (including one of my own) that were going to bid. Called them back and said put in a regular short sale offer. By this time, the Realtors and/or their buyers were disgusted and I'm starting all over!

 

Comment by Becky Turner on August 27, 2012 at 4:29pm

Looking for some help on 3rd time selling a BofA,  Fannie is the investor.  List price is at $240K offer is at $240, comps in the building (its a condo) show $224K.  BofA came back with a counter of $270K and is not looking at the comps I provided.  I am trying to contact Fannie and having no luck.  Does anyone have some guidance for my next step I should be taking? Thank you. 

 

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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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