Short Sales - How to deal with Bank of America

If you are looking at a Bank of America short sale, there are certain things you must be aware of.

1) The receive thousands of short sale file requests each week from distressed property sellers.
2) They are severely understaffed.
3) They are notorious for losing documents. It is ESSENTIAL to verify they have received documents and confirm what they have received.
4) They recently introduced a new short sale processing system through a system called Equator. Equator has helped to streamline the short sale process for Bank of America. While it has helped, they still are slow to process.
5) Did I mention they are behind on processing and the files take several months to be completed.

The bottom line, short sales are a long and cumbersome process. Bank of America is a little slower than most of the other banks. It is understandable with the HUGE amount of requests why they take just a little bit longer.

If you need more information about the short sale process please visit http://www.my5280homes.com and click on the Short Sale Specialty tab. 5280 Homes is a short sale negotiation expert and with the experience to help both buyers and sellers complete the short sale transaction.