A few weeks ago I wrote about the NEW streamlined process on short sales at Bank of America (If you missed it, CLICK HERE) I also got lots of comments from people that just don't believe it!
Well, today it was confirmed. We had a buyer fall out on one of my approved shorts and when I contacted BofA for resubmission they sent me a note that said we had to follow the new procedure and they sent me a "brochure" as they called it.
Here's the link to see the new Bank of America Short Sale Brochure... it's so new that this appears to be a proof that the mitigator sent me!
The client/seller will now call BofA directly, give them some info, and a file will be setup on REOTrans.com for the short sale. Then you as the agent will be able to login to this online portal (if the seller authorizes you) and upload the documents needed such as HUD 1, contract, etc.
Supposedly you will be able to see status updates real time and know exactly what's going on... sounds like we're in a dream! (or a drug-induced coma!)
Can't wait to get this first one started under the new program! It can't be any worse than their old method (knock on wood!)
Anyone involved in the new process yet? I'd love to hear how it's going!