Good News and Yet…Another Change to Bank of America HAFA Short Sales

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We were excited to learn about the recent changes to the Bank of America HAFA process. Why you ask? Because we’re in favor of ANYTHING that streamlines the process of getting the deal closed.

Until recently, when you were helping one of your clients get their home sold through a short sale and the homeowner wanted to qualify for the government Home Affordable Foreclosure Alternative (HAFA) program – and you were working with Bank of America – you (or your client) would be directed to one of the companies Bank of America outsourced the HAFA process to.

If you have any experience with these third party companies, you know they can be known to lack structure, accountability and sometimes even solid knowledge about the actual program. We all had to accept that as a very frustrating part of the process.

The changes in the Bank of America HAFA process means you now work directly with the bank, no longer chasing down the rabbit hole of the third party processor. We’ve processed a lot of short sales through these companies – and successfully – but it was never easy. So, this is good news!

However, can we say that every silver lining is inside a cloud? Well, in this case, the cloud is the pitfalls we’ll all have to deal with until the kinks of doing it ‘the new way’ get worked out. Changes take time. As much we all prefer simple and streamlined – that almost never happens immediately with any change in business.

We specialize in negotiating the red tape of short sales and for us; that means building familiarity with the new rules and regulations and learning our way around and through the system to a successful sale on the other side. Anything becomes easier when you are familiar with it. On the contrary, things you do only occasionally present challenges each time. Sometimes the challenges are enough to make you avoid the process.

We’ve seen some challenges right out the gate with the Bank of America Equator System. We realize these are the kind of things that frustrates homeowners and brokers, but for us it’s all in a day’s work. We trust that the HAFA short sale is going to be a great resource for your clients in 2012. We also know that the new Bank of America short sale process is going to make everyone’s life easier in the end.

The bottom line with the HAFA short sale is getting it approved, getting your client a deal they can work with and keeping your time freed up to work with more clients and close more deals. That’s where we come in. We stay on top of ALL the processes and bring deals to fruition. We make your life easier and your job go more smoothly. Rely on Short Sale Experts. We’ll keep you informed, in the loop and we’ll expertly navigate the short sale process FOR you. Call us to find out just how easy turning over the tough part of your job to the experts really is.

Click here to review the recent Memo From Bank of America.

At Short Sale Experts, we’ve built our business and our reputation on helping you make short sales happen. We have a tremendous success rate – just over 95% and we’ve done it hundreds of times. Simply put we exist to make your life simpler and to help you close more deals, more often.
Would you like to get started with a new short sale? Click Here or Call 888-746-7820

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925 B Street Suite 102
San Diego CA, 92101
Phone: (888) 746-7820
Fax: (888) 597-2040

Short Sale Expert

Encore Real Estate Group
CA DRE Lic. #01883210

Broker: Troy Anthony Huerta
Agent: Leon Cook
CA DRE Lic: #01028204
CA DRE Lic: #01866021

925 B Street Suite 102
San Diego, CA 92101

Phone: 1-888-746-7820