Bank of America

How to Dispute Values on Bank of America Short Sales

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If you have completed more than a handful of short sales, then you have no doubt faced the music with respect to property value.  During the course of the short sale, the short sale lender sends out another Broker to complete a Broker Price Opinion (BPO) for the short sale listing. The bank then, in [...]

May 14, 2012 3 comments CONTINUE READING THIS POST →

Bank of America Short Sale Policy Changes – A Bad Omen?

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We all know that Friday the 13th is considered to be bad luck according to western superstition. Yet, ironically, this coming Friday, April 13, is a day in which Bank of America plans to make a few changes that may make our short sale processing times more efficient.  Will these changes be a bad omen [...]

April 9, 2012 6 comments CONTINUE READING THIS POST →

New Bank of America Short Sale Policy

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Hot off the press (who actually receives a paper newspaper anymore?) is this latest news alert with respect to short sale processing at Bank of America. It seems that Bank of America has now decided that they would like to use their own third-party authorization form when processing a short sale. According to Bank of [...]

March 28, 2012 2 comments CONTINUE READING THIS POST →

Bank of America Offers Principal Reductions – Fact or Fiction?

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Inquiring minds want to know all about this new principal reduction. Maybe you have heard about it on television, or read about it in the news. Bank of America is offering principal reductions of up to $100,000. Sounds great, right? I bet you want to know where you can sign up to get yours. But, [...]

March 19, 2012 1 comment CONTINUE READING THIS POST →

How to Submit a Backup Offer in Equator

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First off, I guess everything really depends upon your definition of a backup offer. After reading the guidelines, I’d surmise that Equator and the average agent probably have a very different definition of the term backup offer. For me, a backup offer is any offer that I receive and ‘hold’ after I have a fully [...]

January 25, 2012 6 comments CONTINUE READING THIS POST →

Are Short Sale Incentives Taxable? What About Gift Horses?

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Have you ever really thought about the phrase, “Don’t look a gift horse in the mouth”? I actually researched it and learned that as horses age, their teeth begin to project further forward each year. Because of this, their age can be estimated by checking how prominent the teeth are. So, what the proverb means is [...]

September 12, 2011 17 comments CONTINUE READING THIS POST →

On the Pilgrimage to Short Sale Mecca

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In short sale mecca, we are lucky enough to get lots of experience negotiating short sales. After all, with so many short sales coming our way in Southern California, this experience is a given. Almost every newspaper that you read or article that you see on the Internet discusses our nation’s economic future. I came [...]

July 25, 2011 2 comments CONTINUE READING THIS POST →

Now You Can Substitute a Buyer in Equator

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If you are working on a short sale in Bank of America’s Equator system and you lose a buyer, you used to have to start all over again from the very beginning. But, now life is oh so sweet, and Bank of America has a soft decline system whereby you can submit a new offer [...]

July 14, 2011 2 comments CONTINUE READING THIS POST →

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