Bank of America continues to improve the short sale process so agents can help homeowners avoid foreclosure. In March, fields were added in Equator so Bank of America can identify which short sale the homeowner qualifies for and best fits their situation. Starting in April, a series of technology enhancements are being implemented to improve the short sale process.
Agents can now initiate a short sale in Equator prior to marketing the property. The benefits of this type of “pre-offer program” include understanding the terms of the short sale and gaining investor agreement for a list price upfront in the process. In addition, the homeowner may qualify for a cash incentive and have their deficiency waived.
If a short sale is initatied with an offer, a short sale specialist will be assigned in Equator earlier in the process. If a short sale is initiated without an offer, many initial steps in the process require homeowner contact to determine program eligibility. Once the appropriate short sale program has been identified, a short sale specialist will be assigned and Equator will launch the agent tasks.
Questions? Feel free to call.
The Bremner Group at Coldwell Banker
ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
Accredited Buyer Representative | Certified Distressed Property Expert | Pre-Foreclosure Specialist Certified
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