Comments on: New Bank Of America Short Sale Process Coming? | Real Estate Short Sale Training

By: Frances

Frances — Sun, 24 Jan 2010 21:38:47 +0000

Frances states:
I have a few short sales (2) which have been in short sale for 11 months, now that B of A systems have changed we are receiving mixed messages, sign up with Equator to track our short sales files.
We did” I faxed using faxmaker, manually fax and e-mail documents to B of A now we have received e-mails with negotiators names, next we received e-mails from bank of america that Titanium solutions is handling the files. next we receive a letter coming from generic negotiator, stating the short sale was denied because they did not receive all of the documents.
We have sent a letter to the CEO Moynihan, and Ken.D. Lewis. now we have the escalation team working on these short sales. And we still having mixed e-mails. My suggestion you have to keep calling Bank of America 3 times a week on each short sales until u get an approval letter. We have no trouble with Wachovia Mr Chris Hall is the best he can get you an approval in 7 days.
Ctiimortgage, Carrington Mortgage are great to work with.
Indymac/One West Bank they take a little longer but do keep on top of your short sales.
We no longer use REO Trans we deal direct with the bank.
Frances

By: Phil

Phil — Thu, 12 Nov 2009 15:23:22 +0000

Doesn’t matter what BoA says they are doing, I will never bank with them again. SEVEN months I’ve been stuck in a short sale with them! I’ve updated my financials twice already because they have expired. NEVER does a negotiator call back. Worst company I’ve ever had to deal with.

By: Tim Harris

Tim Harris — Wed, 04 Nov 2009 02:27:40 +0000

HAH! Love that….
At least BoA were honest telling agents they were moving over to REOTrans…and that their SS processing would be slowed. BoA has been a HUGE PITA for the last 4 months…wanna bet they will soon be seen as the easiest bank to do SS with as soon as everything is online?
One thing is for sure…2010 will be the year of the SS.

By: Amanda

Amanda — Wed, 04 Nov 2009 01:32:29 +0000

It’s great to hear that Equator (formerly REO Trans) has stepped out into the forefront of short sale automation. I am currently working on a couple of short sales and it can be a daunting process! This will definitely help our short sale homeowners! Thanks for the updated information!

By: Rich Jacobson

Rich Jacobson — Wed, 04 Nov 2009 00:55:00 +0000

NOW they talk about reforming their dismal short sale processes! Figures! I’ve been stuck in the quagmire of a B of A short sales for months now! The least we could do is ‘rename’ the thing. Who was the genius who came up with that moniker anyway?

By: ryan

ryan — Tue, 03 Nov 2009 22:26:17 +0000

Good Stuff. Thanks!