TheShortSaleCompany4U.com

No Gimmicks, Just Results!TM Since 1998
Short Sale Specialists     What Is a Short Sale?     Bank of America Equator     FHA Pre-Foreclosure     Contact Us     About Us     FAQ     Offer Instructions     USDA Loans      
JP Morgan Chase     Wells Fargo Short Sales      

 

 

Bank of America continues to improve the short sale process so agents can help homeowners avoid foreclosure. In March, fields were added to the initiation page in Equator so Bank of America can identify which short sale the homeowner qualifies for and best fits their situation. Starting in April, a series of technology enhancements are being implemented to improve the short sale process.

 

  • Integrated Technology for Deals With an Offer and Without an Offer:
    Agents can now initiate a short sale in Equator prior to marketing the property. The benefits of this type of "pre-offer program" include understanding the terms of the short sale and gaining investor agreement for a list price upfront in the process. In addition, the homeowner may qualify for a cash incentive and have their deficiency waived.

 

  • Short Sale Specialist Assigned Earlier in the Process:
    If a short sale is imitated with an offer, a short sale specialist will be assigned in Equator earlier in the process. If a short sale is initiated without an offer, agents should be aware that many initial steps in the process require homeowner contact to determine program eligibility. Once the appropriate short sale program has been identified, a short sale specialist will be assigned and Equator will launch the agent tasks.

 

  • Homeowner Documentation:
    Short sale specialists are able to identify earlier in the process which homeowner documents, if any, are required. Depending on the homeowner's situation, the amount of documentation required may be significantly reduced. However, the short sale process will not move forward until all required homeowner documentation is provided.

 

  • Initial Offer Evaluation:
    If an offer is submitted that is significantly lower than current values, the offer may be rejected and the agent will be notified in Equator. The Submit Short Sale Offer task will reopen and a new offer must be submitted.

 

 

 

 

 

 

If you are considering a Short Sale and have a Bank of America loan, contact us now.

 

Time is of the essence.

 

First name
Last name *
Street Address
City
State
ZIP Code
Primary phone
E-mail address
Comments