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B of A streamlines short sale process
Bank Of America recently announced it will begin to use additional methods to determine property values in an attempt to streamline the short sale process and reduce cycle time. As of mid-October, different valuation methods that do not require access to the property will be implemented on some transactions. This will reduce the time frame for the valuation stage from several weeks to a few days.
When access to the home is necessary to complete the valuation, the real estate agent or homeowner will be contacted to schedule access.
If the real estate agent disagrees with the valuation of the home, a reconsideration request may be submitted to the short sale specialist through an Equator message.