bank of America Short Sale Process.

Foreclosures, Short Sales, Tax Foreclosures
1

Explain bank of America Short Sale Process.

2

So that would be an order then? Or more like a homework assignment?

3

1- Send in authorization
2- Call two days later to confirm they received it
3- Send it in again
4- Call 4 days later to verify
5-Send it in for the third time
6-Call 6 days later to confirm receipt
7-Redial because you were just hung up on.
8-Finally speak to someone who says “Yes” we received it.
9-Send in SS package
10-call every two days until they say they have received the ss package…
11-regather all financial docs from seller because now they are too old
12-start the sending in process again.
13-about 45-60days into it they tell you a stage one is working on the file.
14- call every week for updates… keep notes of who and when you called in
15-Go to your doctor for a prescription for Zanex
16-after 90 days they have elevated it to level 2
17-call on a daily basis to confirm trustee sale is being postponed
18-call in the refill of the Zanex
19-call to confirm all docs are fine… stage 2 has put notes in the file that they are ordering a second BPO
20-Second BPO comes back 20k higher then the first. New agent trying to make a name for themselves
21-Call in second refill of zanex- Doctor wont refill so you take up drinking
22-Call buyer to let them know price adjustment is in the works and they move on.
23-Buy bigger bottle of alcohol
24-start looking for new buyer
25-receive call from seller that they decided to try and keep the house.
26-Think seriously about Fire Arm legislation
27-Convince seller that they need to move and not jerk you around
28-Bank writes you emails you cant open without level 7 clearance from home land security
29-You finally get your approval letter…
30-conditioned on not transferring title within 30 days.
31-drive over to the house to confirm seller moved out and find out that squatters have moved in.
32-rethinking fire arm legislation again
33-stop by the local liquor store and fill up.

Those are the steps in a BofA SS

4

Classic! BUT TRUE!

5

Yes I agree. You will also encounter those steps if you get into Bofa SS. You will have to do this every time you want to talk to them until they get you in their system.

6

Hi,

Or you get a pair (..) and simple tell the lender my offer is only good for 21 days and when you walk away on day 22 they call back asking if you will go ahead and buy the property if they approve the deal today!!!!!

I don’t play the short sale game, there are so many short sales out there that if they want to waste time, I will go on to the next deal!

I would say roughly 70% of loss mitigators call me once I walk away, they have to many properties to process and not enough buyers!!!

              GR (Guts)