Attorneys At Law

Attorneys practicing in and around the Chicagoland area. Experienced in the practice areas of Real Estate Law, Mortgage Foreclosure Defense Litigation, Social Security Disability, Business Law, & Estate Law.

Attorneys At Law - Attorneys practicing in and around the Chicagoland area. Experienced in the practice areas of Real Estate Law, Mortgage Foreclosure Defense Litigation, Social Security Disability, Business Law, & Estate Law.

Bank of America Short Sales Through Equator

Bank of America FHA Short Sales Through Equator – Do You Know the Highlights of the New Guidelines?

  • The homeowner must start working with their Customer Relationship Manager (CRM). Home Retention Options must be done first. The Homeowner must submit all their financials to the CRM.
  • Then an Approval to Participate (ATP) will be issued.
  • The Agent can only assist the Homeowner once the ATP is issued. The property should not be listed until after the ATP is issued.
  • The Homeowner is the only person who can submit the FHA short sale. Agents cannot start FHA short sale process in Equator.
  • Relocation Assistance is available to the Buyer in the amount of $1000 if closed within 90 days of the marketing period, or $750 if after.
  • Some new FHA files can now be worked on Equator.

*This information is not intended to be legal advice. This information is subject to change, please contact us for more information.

Category: Blog