Sacramento Short Sales Will Definately Improve in 2010

 

Sacramento Foreclosure Solution Expert Report

Short Sale Help Is On The Way! BofA Implements The REOTrans Equator Short Sale Process Module.

Sacramento Short Sales are here to stay… and with more and more defaults and homeowners in foreclosure, short sales will become even more and more rampant in Sacramento.

Bank-of-America-RGB

Bandk of Amerioca Short Sale System

Short Sale Help

The problems with most Sacramento short sale transactions are the extremely slow communication, processing, negotiating and approval of short sale files.Even though their are several banks that have been really good to work with; Wachovia has been good for a long time, Chase is becoming a breeze; Wells Fargo is getting things lined up, and now even Freddie Mac and Fannie Mae are pledging to help the Short Sale Process to become smoother.

Click here for Sacramento short sale help.

The “writing is on the wall” for 2010 to become the year that servicers, banks, institutions and secondary investors all get their act together to help make the short sale process more mainstream, less painful, confusing and stressful for buyers!

Over the last few years; often times, after Sacramento buyers have written offers on two, three, even four or more short sales without success, they just quit looking at short sales altogether and look for an REO or equity sale…

We will Surely look back at 2010 as the year the game changed… as more and more banks implement systems to make the Short Sale Processmore streamlined, easier to manage and even transparent; more like traditional real estate transactions! Sacramento’s real estate market will see a huge change as Bank of America gets its act together and starts closing short sales faster and more consistently

Click here for Sacramento short sale help.

The new Equator Short Sale Processing Module  (formerly known as REOtrans) has been launched as the industry’s first short sale processingonline portal. The amount of people I talk to here in the Sacramento area just amazes me; its like one of every three or four people I visit with about their mortgage have a BorA or Countrywide BofA

Although Equator has declined to name the lender, the new Internet based platform, as recently reported by the San Francisco Chronicle, will be used by Bank of America. A representative from BofA recently told the Chronicle that they were using the Equator platform to manage the short sale process. Great news, as Bank America is hands down the WORST bank to deal with on short sale files right now! 

The Short Sale platform will allow everyone involved in the transaction to work together, in real time with access to all documents, processing requests etc. and will be a huge asset in helping to shorten the time frames of short-sale approvals.

As reported in DSNews:

“This is the first time that short sales have been handled through an electronic platform,” said Equator CEOChris Saitta. “With our new system, everyone works together in real time, dramatically improving communication and approval timeliness for our client, its borrowers, vendors, and real estate agents.”

Just think– The short sale process becoming more like traditional real estate!

Click here for Sacramento short sale help.

If you are a buyer or a homeowner with questions about your options, Contact me today for Sacramento Short Sale Help!

  1. SACRAMENTO SHORT SALE OUTLOOK | We're Here To Help

    […] Contrubuted by sacramentorealestatetalk.com […]

Leave a Reply





Copyright © 2007 Sacramento Real Estate Talk     Agent Login     Design by Real Estate Tomato     Powered by Tomato Blogs

Disclaimer: The information contained on this website is deemed reliable but not guaranteed in any way. This information is not to be taken as legal advice

Phone Number: 916-248-7777 / DRE: 01319540