The answer is very likely YES; as in both. If you are listing and selling short sales then your seller very likely needs not only you as a licensed agent to sell the real estate (and we recommend only the use of REALTORS in good standing with their local boards and MLS) but also the [...]
Bank of America Sued In Texas For Abusing Homeowners with Misinformation and Misdirection
July 8, 2010 By 1 Comment
For the most part BAC Home Loans Servicing, LP is the pits. Faxing documents several times in a row because BAC “lost them” or got a new fax number has been the norm for a long time. Before Equator kicked in (which is a whole other story) Bank of America was consistently the slowest servicer [...]
Countrywide Will Pay $108 Million for Overcharging Struggling Homeowners
June 7, 2010 By Leave a Comment
BAC Home Loan Servicing and Countrywide are just plain crooks. While there is nothing wrong with a lender taking control of a situation with an abandoned home (per the powers granted to them in your deed of trust/mortgage that you signed at closing) the rampant mark up of fees and side dealings like this have [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 2
June 7, 2010 By 2 Comments
Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the negatives and then finally what to do with Equator. Thinking about taking on a new short sale? REALTORS take note, Equator is the new “in thing” for Bank of America and [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 1
June 4, 2010 By 8 Comments
I’ve been asked to write an update on Equator. Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the positives…up next the negatives and then finally what to do with Equator. PART 1 Thinking about taking on a new short sale? [...]
LIVE on CNN 650: Bank of America hammers homeowners after short sale
May 17, 2010 By Leave a Comment
BofA and EMC are going after homeowners who have closed their short sale the “wrong way”. Listen live with Brent Clanton, E.J. Simonsen and Neil Garfield on CNN 650 AM or www.CNN650.com.
What is Equator? Shhh…Bank of America secrets below
April 13, 2010 By 4 Comments
For those who are about to launch a short sale BofA’s way please take note of their love for what used to be REOTrans and now is the new Equator system. We have been testing this with them for quite some time. In a nutshell they are pushing the work out to the loss mitigation [...]
Obama is handing out $3,000 to short sellers
April 5, 2010 By 1 Comment
Our U.S. Treasury stands ready to hand out checks to homeowners to help them with short selling their home! Ok, not exactly but the Obama Administration is pledging to chip in to help homeowners who are underwater and need to sell their home. Bank of America, clearly our Nation’s leading “uplifting promise to do something press [...]
Can I get a principal reduction on my mortgage?
April 1, 2010 By Leave a Comment
Sure, with enough firepower you can not only get a principal reduction but shut down the bank from even attempting to collect from you at all. As far as regarding how you “get your principal reduction” in HAMP read on… Remember folks, these changes to HAMP and HAFA and every other program rolled out require [...]
Short Sale’s are gaining traction with Lenders
March 29, 2010 By 2 Comments
For homeowners the choice is VERY CLEAR; short sales do less damage to credit, allow the homeowner to satisfy a large portion of the debt and in many cases allow for the homeowner (who has fallen behind on payments) to live “rent free” while the sale is negotiated. The following article on CNNMoney highlights what [...]
