Ladies and Gentlemen:

The tax credit deadline of April 30th is fast approaching; get your contracts in fast. Government 30 YR rates are as low as 4.75% for qualified buyers. We will be more than happy to get them closed in 30 days for you. I am looking forward to helping your next prospect becoming a happy homeowner.

Bank of America Home Loans

Bank of America Home Loans will now be using Equator as the primary tool for short sales.  It is a self service portal that automates the short sale process.  This will streamline the process and improve the experience for both customer and real estate agents.

 

As a result, Bank of America will no longer be accepting faxed short sale documents, effective immediately you will need to upload those documents through Equator. Information to assist you with the Equator system can be found at www.bankofamerica.reo.com/shortsaletraining.

 

Once a short sale is initiated on a Bank of America loan, you can also access the educational guide within Equator.  It can be found within the "Upload 3^rd Party Authorization" task.  This guide provides tips for avoiding delays and navigating system functionality.

 

To start a short sale today, go to www.Equator.com/

 

REMINDER: The federal government recently announced the short sale program guidelines for the Home Affordable Foreclosure Alternatives (HAFA) program which will go into effect on Monday, April 5, 2010.  Bank of America Home Loans is implementing HAFA, the program designed to help those customers who were not eligible for the Home Affordable Modification Program (HAMP) or any other modification.  For more detailed information on the HAFA program, go to the National Association of Realtors site at www.realtor.org/government_affairs/short_sales_hafa.

  

 

CURRENT RATE TRENDS AS OF 4/8/2010:

30-Year Fixed (with 1 point)        4.875%

15-Year Fixed (with 1 point)        4.25%

 

Have a wonderful weekend!