San Jose Short Sale Agent: Silicon Valley Foreclosure Prevention Specialists

Starting today, December 1, 2011, Bank of America (BofA) makes the HAFA short sale process run easier and smoother by permitting them to be processed through the Equator system. The use of the Equator system made the entire short sale process at BofA go much smoother. It was only a couple of years ago, that BofA was often deemed to be the worst lender to deal with in the short sale arena. As the San Jose Short Sale Agent who has handled countless number of short sales with BoA prior to their transition to Equator, the changes in their service after converting to Equator were almost immediate. BofA went from the worst to best in a matter of months by a BBB (Better Business Bureau) survey. Unfortunately, the benefits and the efficiency of Equator were unavailable for those who were seeking HAFA short sales with BofA.

Until this announcement was made, all HAFA short sales had to be taken out of Equator and handled through their third party vendor call centers and fax machines. This meant things took longer and the inefficiencies of faxing documents to various fax numbers and non-employees came back into play. (But to be fair, even Wells Fargo which also uses Equator, takes the same approach with HAFA short sales and removes them from Equator). But with the announcement today that HAFA short sales can be processed through Equator, all is right with the universe. Now only if Wells Fargo will follow suit.

Bofa Announcement

Here is an interesting article about how the BBB (Better Business Bureau) rated the major loan servicing companies which handle loan modification and short sales.  It’s was an interesting read for me because I was having a lot of difficulties recently with Chase, they have been ruthless and unreasonable in their demands, especially when they are in junior positions.  It used to be that Bank of America was the bank that everyone doing short sales bad mouthed; but my feeling was Chase was getting up there.

I was far from surprised to discover that Chase had received an “F”  from the consumers who were dealing with them.  The interesting fact is that Bank of America, which used to be at the bottom has now received an “A+”!  I can attest to this change  as well, because with the implementation of Equator into their short sale business and with their executive, Matt Vernon’s, committment to change the way they approached short sales,  their level or service and the speed with which they handle matters have changed  180 degrees.   They are one of the best to work with right now.

Another interesting point that the article tackles is the bait and switch loan mods that we are beginning to hear about.  Homeowners being strung out for months on these “temporary modifications” and while waiting (and paying) getting foreclosed on without notice.  At first, these instances sounded like anomalies, but the frequency of these instances is increasing; thereby indicating some sort of concerted effort rather than mere fluke incidents.

See what grade your loan servicer received.

http://www.shamethebanks.org/jorge/bbb-f-grades-to-chase-litton-ocwen