Quick Bank of America Update
On April 18, 2011 Bank of America will be implementing a system they call Fusion. This system will eliminate the requirement to re-initiate a short sale if they buyer walks or you cannot close by the short sale expiration. In …
Read MoreWhy 26% of Bank of America Equator short sales are Automatically rejected….
So I just had a conversation with a pleasant Bank of America rep. BofA is doing a pilot program where they call agents for a welcome call after they have initiated a short sale on Equator.
The point of the …
Read MoreGood Changes Coming to HAFA
There are some changes coming to the HAFA short sale program that will positively affect your clients
on Dec 28, 2010 Supplemental Directive 10-18 was issued by the Making Home Affordable program.
These changes take affect Feb 1, 2011.
Many
…Does the seller sign the contract before bank approval?
I have heard this question a ton of times and have seen agents argue over it.
The answer is always YES!
Let’s look at the issue.
1. There is no Contract until the Offer is signed. So if the buyer’s …
Read MoreSo What’s Up With HAFA?
So with all this HAFA hoopla what is the skinny on this program? What are positives and the negatives? Let’s delve into the particulars.
What is HAFA?
HAFA stands for Home Affordable Foreclosure Alternative and is a subset of the …
Read MoreShort Sales — When to do the home inspection?
To Inspect Now or Wait Till Short Sale Approval?
That is the question I hear all the time.
So what is the answer?
Well to start, the answer is “It’s Negotiable”.
In these cases the buyer is going to have …
Read More