BOA Shortens the Short Sale Process – Short Notice
Bank of America is changing its short sale process, effective April 14th, so if you’ve submitted a short sale, heads up! You’ll have to complete a list of tasks to ensure your file isn’t stamped with a big, fat DENIED. Here’s what you’ve gotta do:
- Submit short sale offer
- Upload the offer documents
- Upload the supporting documents in Equator
You can access these documents at the Bank of America Short Sale Resource Center, but beware, the changes are so major that Equator will be down for up to 12 hours overnight starting April 13th. Speaking of Equator (and no I’m not talking about the line of latitude that burns hotter than a butt with hemorrhoids), all internal communications and transactions will take place here, however the duration of these transactions will be reduced to five days (from 14 days). Buyers will now only receive two counteroffers, and they will receive responses within three days. Talk about cracking the whip!
For more info, check out BOA’s webinar on April 19 at 4pm EST.