Service Released Bank of America Mortgages and Short Sales and how that Might Affect You and your Situation

Posted on Jan 14, 2013 in Roseville and Sacramento Short Sale FAQs

Hi, I’m Mark Peek with Keller Williams, your Roseville and Sacramento short sale specialist. Today I want to talk about Bank of America being serviced released. Have you received a letter recently from Bank of America about your loan being serviced released? This means it is being transferred to another servicer. So if you are in the middle of a short sale, this could impact you quite a bit. If your loan is actually transferred to a new servicer, you may have to start your file all over again from scratch with the new servicer. A lot of times when servicing is transferred over, the documents will still go with the file but unfortunately the servicer wants to check on the previous servicer’s message over their file and make sure everything in there is up to par.

So if you have any questions about service released to either Greentree or a lot of them are being transferred over to Seterus, so if you have any questions about that and how it might affect you, feel free to give me a call. Also, if you are considering a short sale and not sure if it’s the right decision for you, I highly recommend the short sale decision calculator on our website. It will give you an idea of how long it’s going to take for you to break even. It will also help you figure out whether or not a short sale might be right for you. Again, I’m Mark Peek with Keller Williams Realty, your Roseville and Sacramento short sale specialist and I’m here to help. Thanks and we look forward to speaking with you soon.

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We Have Success When Escalating Our Bank Of America Files

Posted on Jan 8, 2013 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek at Keller Williams Real Estate, your short sale specialist in Roseville and Sacramento. Today I wanted to talk about a Bank of America file that we’ve had for a little while.

Bank of America used to be a lot better with their short sales but right now they’re going through a ton of changes and lots of service releases to other banks. One of the people that I used to reach out to in their short sale department has either moved on to a different company or moved departments, but we still have a large number of contacts out there. This seems to be happening a lot with Bank of America where we have to reach out for help from someone in their short sale department because we have a negotiator that’s not performing or files are being stagnant. The supervision isn’t necessarily there either; the supervisors don’t really seem to help out in most cases so we usually have to reach out to a person that’s quite a bit higher to get help with a short sale file. We seem to have a lot more of these lately with Bank of America and we’re not afraid to get the help that we need to get these short sales closed for our clients.

If you have a situation that you’re concerned about, maybe you’ve tried a loan mod or you had a short sale that was declined with Bank of America, we’ve been able to get through a lot of situations that other short sale agents thought were impossible, please give me a call. I’d also like to encourage you to try out the short sale calculator on my website; it can help you determine if a short sale is the right move for you or if you could possibly stay in your home. It’s a great tool that a lot of homeowners are using to determine if they should short sale, or even if they just want to find out their property value.

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Information About Bank Of America’s HINIncentive Short Sale Program

Posted on Sep 7, 2012 in Roseville and Sacramento Short Sale FAQs

Hi this is Mark Peek at Keller Williams Real Estate in Roseville and Sacramento and I’m your short sale specialist for the area. I wanted to talk today about the HINIncentive short sale at Bank of America. It’s an enhanced relocation assistance program that they came out with.

How does it work? How do you apply for it and how do you know if you qualify? One of the things that you want to do is apply for the HAFA short sale program. This program works in combination with HAFA so if you are approved for a HAFA short sale and your loan is with Bank of America there may be an enhanced relocation incentive on top of the $3000 that HAFA already gives you. How much is it and how do they determine it? They don’t necessarily tell us how they determine, but I do have a few of these short sales going on right now and just had one approved. As long as you meet the HAFA guidelines, you’ll get the $3000 unless you vacate the property before the short sale is closed. The enhanced part of the incentive is based on the price of the property, the value of it and where it is located. In this particular case, the property value is around $245,000 and the homeowner is receiving about $3100 from Bank of America on the HINIncentive short sale program. That’s basically how the short sale works and is similar to the HAFA short sale.

The HINIncentive does expire in September of 2013 so if you have any questions, have a Bank of America loan and you’re considering a short sale please give me a call. We can find out some more information about whether or not you might qualify for this HINIncentive short sale program. Either way, many people are qualifying for the HAFA short sale program as long as their home is still owner occupied. Again, this is Mark Peek with Keller Williams. Click Start Here at the top of the page if you have any additional short sale questions or you can always give me a call, too.

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Bank of America CO-OP Program Will Pay You Cash To Short Sale Today

Posted on Aug 25, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone my name is Mark Peek with Keller Williams Realty, your Roseville and Sacramento short sale specialist, thank you for your time today. I work with Roseville and Sacramento homeowners every day and use this blog to share valuable information on all of your options for avoiding foreclosure. If your mortgage is underwater and you are unsure of your options please take a minute to browse my website or call me directly to find out I can help you get out from under your mortgage debt.

For my blog today I wanted to speak with Roseville and Sacramento homeowners with a Bank of America loan about a great new program that may pay you to short sale your home. This program called a Cooperative Short Sale will provide the homeowner with anywhere between five thousand and thirty thousand dollars just for completing a short sale on their Roseville and Sacramento property. While this is great news for homeowners not everyone will qualify and it is important to know a head of time if you will qualify. First of all your loan will need to be owned by Bank of America, instead of just being serviced, in order to be eligible. I just received an approval through the Bank of America Cooperative Short Sale Program and it was incredible how easy the entire process was. There was very little paperwork needed compared to a normal short sale file and the entire program is very streamlined. Relocation Assistance is a great opportunity to move on from your distressed property with a little help your lender.

To find out if you qualify for this Bank of America program or to learn more about completing a short sale please fill out a contact form on my website or call me today. Thank you for your time and I hope to hear from you soon at Keller Williams Realty right here in Roseville and Sacramento.

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