Equator Short Sale Platform
Call (877)737-4903 to connect with a local Realtor® who is an Equator Certified short sale specialist.
The Equator short sale platform was introduced some time ago to better assist the homeowner and the Realtor® during the short sale process. Bank of America was the first nationwide institution to use the system, and now most large organizations use the system. Equator is a self service portal that will begin the short sale process. The Equator short sale process has many advantages to its unique ability. For example: status tracking is available for the homeowner to be able to see firsthand where their short sale is in line in the short sale process. Around the clock access is granted so that all parties involved will be able to log on whenever they would like. Another nice thing about the Equator short sale platform is documents are uploaded directly to Equator instead of faxing, with this ability the worries of lost paperwork will finally be able to come to a halt. Direct communication with the short sale negotiator is also provided in the Equator short sale process.
In order to initiate your short sale, many lenders including Bank of America require you use a local short sale specialist who is experienced with the Equator short sale platform. There is no cost associated with this, as all traditional closing costs including Realtor® fees are paid for by your lender in a short sale. Contact us today at (877)737-4903 to connect with a local Equator Certified Short Sale Realtor.
There are other mortgage servicers out there who are taking advantage of this new way of handling short sales, but it is Bank of America who is carrying their own unique attributes to the process while making it most endearing to the buyer. In the beginning of the short sale process, the Equator short sale specialist will be asked for the first five digits of the buyer’s social security number, along with other personal information such as date of birth, address, phone number, and loan information. You will have to provide this information, along with the authorization letter we will give you in order to allow your local assigned short sale agent to contact them on your behalf.
As stated earlier, the system will allow the individual to upload documents from the computer directly to the bank without the hassle of lost/missing paperwork. The tasks in the Equator process should be taken seriously because there are a number of tasks that should be handled in the proper manner. One of these tasks typically consists of a 3rdparty authorization in order for your Realtor to work on your behalf. The next section would be considered the offer worksheet which will act as your HUD-1, these numbers will better help the bank see their net on the short sale. Following the HUD-1 will be the task of uploading the MLS sheet, purchase contract, HUD-1, property photo and MLS number. You can usually expect this to be done within the first five days. If this sounds complex, don't worry about it at all. Our average agent has closed over 50 short sales and will help get all of this paperwork together and present it all to your lender in a short sale. Fill out the form below or contact us today to speak to a local Equator Certified short sale specialist.
Once all of the appropriate documents have been complete, a Broker Price Opinion will be asked to come about. During this time, uploading all of the proper documentation like paystubs, tax returns, bank statements, hardship letter, and your financial worksheet would be advisable. By introducing the Equator short sale process, Bank of America and other lenders have saved a great deal of time for homeowners and their short sale Realtors. Offers have been approved within 27 days, however, times may vary.
When it comes time to contact an Equator short sale specialist to assist you with your short sale, make sure you are choosing an agent who is familiar with this platform. Our agents are experienced with Equator and are certfied specialists. Contact us today to discuss the short sale process in detail and to also speak to a local short sale agent.
Equator Certified Agents - Call (877)737-4903 or fill out the form below to connect with a local Equator Short Sale Realtor to offer free help.
Equator Certified Short Sale Specialists
Are you looking for an experienced Equator short sale specialist to assist you with your Bank of America or Wells Fargo short sale? Our agents are Distressed Property Experts Certified in short sales who offer no cost assistance to you for your short sale! Contact us today to see if you qualify for a short sale!