Oct 12, 2012
Bank of America has Sold Your Mortgage…What Does that Mean?
Within the last couple of weeks Bank of America has been sending letter to homeowners letting them know that there is a new servicer for their loan. The one I am personally aware of is Seterus, but have also heard that Homeward and SPS (Select Portfolio Servicing) are others. What that means is that they are no longer responsible for handling the loan. If you are making payments, make sure they go to the right place!
Are You Involved in A Short Sale?
If you are involved in a short sale transaction, this could and probably will cause delays. BOA has to transfer documents to the new servicer before the ball can get rolling again and I am hearing that BOA isn’t always doing so in a timely manner.  If you have an offer in negotiation it depends how far along things are as to the result of the changeover. If the offer is newly submitted to BOA then you will probably have to start from scratch with the new company. If there is a letter of approval and the closing is eminent then there is a chance the new company will approve the short sale and allow the property to convey. The bottomline is that you will probably face delays and it is important for your agent to contact all parties and communicate with them so no one is surprised by it…there is enough of that in short sale transactions already.
A Letter at Your Doorstep…What Now?
Let your agent, attorney or negotiator know who the new servicing company is. BOA should be transfering documents over to the new company, but you want to be proactive by contacting them quickly and requesting the appropriate documents they need for the short sale file and ask them what they have.  Has there been a recent BPO done on the property…that should be one of the files transfered and the new company will wait on that before negotiating on any submitted offer that is not already approved. At least you can get your part done. It also doesn’t hurt to have whoever is negotiating with BOA on your side to contact BOA for an update on the file transfer.
Our Best Advice
Be Proactive! That is something our team stresses all the time. There is only so much that is within your control in these types of situations, but it is very important to have people helping you that know the short sale process. If you have any questions we would be happy to help! 508-258-9010 or [email protected] .
Oct 7, 2012
6 Hillside Rd Sandwich MA offered at $245,000
This is your opportunity to live in sought after Country Farm Estates, a great value just needing a few personal touches. Large kitchen with unique center island has a warm welcoming feeling. Sliders lead to an expansive deck overlooking the pool and backyard. The dining room features beamed ceilings and wood floors. Light/bright living room with impressive floor to ceiling brickwork/fireplace, sliders and 8 skylights. The master bedroom is conveniently located on the first floor with its own private master bath. Three bedrooms on the second floor as well as a home office. Extremely energy efficent: solar water tank, well insulated, south facing passive heat. Enjoy the fantastic yard, patio, deck, above ground pool as well as Snake Pond Beach minutes away! A pleasure to show! Third party approval required. Buyer to confirm all information
Oct 6, 2012
15 Erlinda Rd Truro MA offered at $539,900
Find a truly picturesque setting in this Truro retreat! Nestled amongst the woods, perched up on a hill enjoy the wonderful marsh views. Featuring an open floor plan the space within flows easily from fireplaced living room to dining area and kitchen. Step thru the sliders onto a large wraparound deck while taking in the captivating panoramic marsh vista in front of you. Two bedrooms and shared bath finish out the first floor. On the lower level there is the third bedroom as well great extra living space and another bathroom. The lower level walks out to a deck through large sliders. Less than 1 mile to gorgeous Corn Hill Beach this is certainly a perfect Cape Cod retreat…come take a look. We would be happy to show the property anytime! All information subject to verification by the Buyer. Thank you!
Oct 2, 2012
30 Dutchland Dr Yarmouth MA offered at $239,900
Price Reduced!! Very well maintained Yarmouth Port home convenient to all the great town amenities. Featuring two very large bedrooms on the second floor, well kept living room and kitchen with wood floors, sliders to confortable deck, full basement and good sized yard. Would be great for a seasonal or year round home….not much to do but move right in! All information should be verified by buyer.
Sep 27, 2012
4 Warren Pl Truro MA offered at $220,000
Beautiful .78 acre lot in Truro less than one mile to Corn Hill Beach. Possible access via Warren Place or Eric's Road. Could be purchased as a package with adjacent lot and existing three bedroom/two bath home at 15 Erlinda Rd. (MLS#21204886). Seems to meet guidelines for a developable lot per the Town of Truro but all information should be verified and buildability is subject to Buyers due diligence/permitting with Town of Truro.
Sep 7, 2012
6 Hillside Rd Sandwich MA offered at $250,000
This is your opportunity to live in sought after Country Farm Estates, a great value just needing a few personal touches. Large kitchen with unique center island has a warm welcoming feeling. Sliders lead to an expansive deck overlooking the pool and backyard. The dining room features beamed ceilings and wood floors. Light/bright living room with impressive floor to ceiling brickwork/fireplace, sliders and 8 skylights. The master bedroom is conveniently located on the first floor with its own private master bath. Three bedrooms on the second floor as well as a home office. Extremely energy efficent: solar water tank, well insulated, south facing passive heat. Enjoy the fantastic yard, patio, deck, above ground pool as well as Snake Pond Beach minutes away! A pleasure to show! Third party approval required. Buyer to confirm all information
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