100% of my business for the past 3 years has been short sales and I've had my share of BofA loans pre-Equator and now using Equator. I could probably write a book on this but I'm not going to. The most important and helpful advice I can offer is "patience". Once you have completed all of the tasks assigned the property will go into "Valuations" or "Held" - wait, & be patient. My experience has been to send a VERY NICE e-mail to the negotiator (through Equator) just asking if they need anything else from you... sometimes you will get a response sometimes you will not.
Eventually when you least expect it, you will get an e-mail notice.
I have found it is getting much faster. I initiated a short sale on Equator two weeks ago on a property in the mid $1 Million range and we already have an approval and should be closing soon.
I have another submitted 3 months prior to that one in the $200's and it's taking forever....
Best of luck - hang in there,
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. It is never beneficial to the Seller or to the Buyer and it is only beneficial to the Agent.
888-391-5245 Direct Cell
I have closed several short sales through the Equator system. It actually is an improvement from waiting on hold in the past. Here is a link that can help walk you through the process. Hope this helps.
By the way, if you have any clients moving to CA (Los Angeles, Orange County) areas don't hesitate to call
Realty Executives Select
You'll never find your next transaction sitting on the phone with Bank of America or Chase.
There are service providers aplenty who will negotiate your files for you from zero to 1%. I've found a great negotiator much more skilled than I am. They get deals closed and are more than worth the NOTHING they charge. Careful not to appear as a spammer I'll leave their name out but they are not the only ones I've found that offer a great service for free to worth it. Do some detective work and you'll find them also.
Good luck and hang in there.
JOAN LORBERBAUM MOORE
Broker Associate, GRI
9858 Clint Moore Road
Boca Raton, FL 33496
Short and simple. They have caused us to have a property on the market... way over 700 days. Lost 4 buyers or maybe 5, hard to keep track. We're on the next one now. Just hoping we can keep it off the courthouse steps for say the 6th or 7th time trying to get this one closed. All through the lovely equator system.
IBOA is adding a bunch of short sale negioators here in the Jacksonville area. I think they are to be up and running in Mid to end of August. Maybe that will help.