bank of america: Wells Fargo Supervisor Comes Through For Spokane WA Short Sale...Again - 03/28/12 03:09 PM
As most of you know, my lovely wife Jessica Side (EvoReal) and I work together on short sale listings.  She will likely not toot her own horn so I have to for her.  She closed more short sale transactions in 2011 than any other agent in the Spokane WA Multiple Listing Service.
 
That however is not the point of this post.  This post is about a Wells Fargo FHA short sale she has been working on for over a year now.  This property is located in the Spokane Valley on N. Willow Street.
(If you want details on the listing … (1 comments)

bank of america: Bank of America Equator Now Allows Backup Offers - 07/12/11 05:18 PM
It has happened a day late and millions of dollars short, but Bank of America is now letting the substitution of buyers in the short sale process without starting the whole process over again.  You would think a bank the size of B of A would have figured this out years ago.

Here is an example what the old policy did to us.
Two weeks ago we had a buyer walk and found a new buyer within days.  B of A still closed out the file and believe it or not, actually had our seller call back in to discuss options such … (0 comments)

bank of america: Big Short Sale Cheat Sheet - 04/23/10 03:27 PM
This is the biggest short sale "cheat sheet" I have ever posted publicly on my blog.  Don't think I am giving you names and phone numbers of negotiators.  When those are posted, the numbers are nearly always so old, they are pretty much useless.  Plus, those of you who negotiate short sales have to earn something, and once we get a good relationship at a lender with someone who helps us push files through, the last thing we want is to tell the whole world who they are.  When that happens, the best guys get too busy for us.
The following … (2 comments)

bank of america: The Equator System and Short Sales—Getting to the Root of the Problems - 03/22/10 04:33 PM
Why?  Why?  Why?  Why?  Why?  Why?
Six-that's the minimum number of times I tell my team to ask, "Why?" in order to get the core issue when they run into a roadblock or meet with resistance. If the answer you receive to the first Why is Because that's the way we've always done it--ask "Why?" again, then again, then again, then... 
Don't just take, "No" for an answer!
When our Senior Short Sale Negotiator Aaron asked the representative of Bank of America if the Equator system takes into account the fact that certain investors (Fannie Mae, Freddie Mac, and many private … (5 comments)

bank of america: Countrywide - B of A Tighten the Policy Belt on Short Sales - 09/01/09 04:45 PM
Policies are constantly changing at the lender level for short sales.  Recently, Countrywide (Now known as Bank of America), our largest servicer of short sales, has not made a policy change, but rather has made a move to heavily enforce a current policy. 
That change will have a large impact to buyers of short sales if Countrywide is the servicer.  In brief, their phase-three negotiators will allow one postponement/extension of the short sale approval letter, and they will be enforcing the per diems.
This means buyers need to start to move on their loans before the short sale approval is received.  … (4 comments)

bank of america: I Was a Fly on FHA's Wall - 08/15/09 04:14 PM
I have been negotiating short sales as 100% of my business (we're a third party negotiator) for four years now.  I have always wanted to know how FHA deals with some of these lenders that screw up FHA short sales.
We have built some great relationships over at FHA from numerous (and semi-regular) escalations of the many FHA files we negotiate.  It continually amazes me how those banks jump to attention pretty dang fast once the big boys get involved.
Kind of like in grade school when your 5th grade brother walked up to the first grade bully who was giving you … (1 comments)

bank of america: What do Bank of America and the book, "Twilight", have in common? - 08/12/09 05:01 PM
This is a warning to anyone that has any type of credit account at Bank of America especially if it is revolving.  Many of you know that I was once a vice president at Bank of America before leaving to start Alliance Short Sales, a third party short sale negotiation company. 
Bank of America has changed in the last four years; massively.  They have truly become like a vile animal cornered with no escape. 
Actually for those of you who have read the Twilight series, I liken Bank of America to the Newborn Vampires. 

Vicious, blood thirsty creatures looking for … (2 comments)

bank of america: Bank of America; Still Hope? - 05/29/09 12:21 PM
May is just about over.  It went so fast when I look back on it but at times it felt like it would never end.  If you do much in the short sale world, you know that this was the big integration month for Countrywide and Bank of America. 
Fortunately, the two companies are not fully integrating their processes until 2010.  However, all of our countrywide reps now have B of A email addresses and all the loan statements show Bank of America.
One of the reasons that May seemed to drag on from time to time is one of the … (4 comments)

bank of america: Foreclosure Postponement Fiasco - 05/23/09 12:26 PM
Well I never really like to be in this position but yesterday morning we had two short sale properties with offers on them scheduled to hit the auction block.  Just a little background so you are not confused.  Washington, where these two properties are located, is a Non-Judicial foreclosure state.  That means that in Washington if you record a Deed of Trust instead of a mortgage you do not have to go through the courts to foreclosure. 
So on Thursday evening we had a commitment on one property (48th Ave) that they would postpone and it was up in the air … (4 comments)

 
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Matt Side

Spokane, WA

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Address: 1414 W Garland Ave. #100, Spokane, WA, 99205

Office: 5097471101 x 3

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This is a blog that journeys through the process of a short sale. We will discuss shortsale negotiations, pricing strategy, BPO, and even how to postpone foreclosure auction dates.



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