Thanks for visiting us today at SoldByShortSale.com, Pennsylvania’s and Delaware’s premiere short sale team. It is time for an update on Bank of America; first I want to tell you that we really struggled with some Bank of America FHA short sales. This means homeowners that had FHA as the investor on their loan and Bank of America as their lender that we have been helping experienced a few bumps in the road. Their processing department was located in Florida and they were not getting FHA short sales approved in a timely manner and they weren’t responding in a timely manner. We’re now starting to see this improve, thankfully.

Bank of America has put their FHA short sales on the Equator system. Equator is an online software platform that we as short sale agents us to communicate with the bank. Using Equator has been really helpful because we know who the negotiator is and who their supervisor is. More importantly we can track the progress of the short sale transaction instead of having to call into a call center to obtain that information. Now that Bank of America is transitioning all of their FHA short sales onto the Equator system we’re seeing much better success in getting them approved in a timely manner.

If you have a Bank of America loan, you are considering a short sale and want to know how long the process will take please give me a call. We would like to update you on what we’re seeing and how we might be able to help you get a short sale approved through Bank of America. Again, thanks for visiting us at SoldByShortSale.com, the leading short sale specialists in the area. We look forward to speaking with you soon and helping you with your short sale transaction.