Bank of the West frequently asked SHORT SALE & FORECLOSURE questions in New York

What are some Bank of the West foreclosure alternatives?
I am upside down on my mortgage with Bank of the West, what should I do?
What is a Bank of the West short sale?
Bank of the West denied my loan modification, what's next?
What is the Bank of the West short sale process?
How do I choose a Bank of the West short sale company?
How do I qualify for a short sale with Bank of the West?
Where do I find a Bank of the West short sale expert?
How do I hire a Bank of the West short sale REALTOR?
How to find short sale agents who work with Bank of the West?
What are the documents required for a Bank of the West short sale?
How do I write a Bank of the West hardship letter?

What are some Bank of the West FORECLOSURE ALTERNATIVES?

If you are wanting to avoid foreclosure with Bank of the West in New York, consider a short sale. Bank of the West has alternatives to a foreclosure. With record high defaults (foreclosures), a great solution is a Bank of the West approved short sales. There are a large number of people behind on their mortgage payments and upside down on their home that want to avoid foreclosure. Banks are allowing you to sell your home for less than what is owed. If you want to stop your home from going into foreclosure in New York, a short sale may be the right solution for you. We provide this service at absoletely no cost to you and have great working relationships with Bank of the West to help you in your time of need.

I AM upside down on MY mortgage with Bank of the West, WHAT SHOULD I DO?

If you upside down on your Bank of the West mortgage, there are options to avoid foreclosure in New York. There are many options to either avoid a foreclosure or make your mortgage payment even more affordable. To avoid having a Bank of the West foreclosure, one of the best options you might have would be performing what is called a short sale.

What is a Bank of the West Short Sale?

Banks such as Bank of the West are not wanting to absorb the cost of a foreclosure in New York. Foreclosures are very expensive and time consuming. Banks will typically work with home owners in hardship and allow you to perform a short sale. Our company specializes in helping homeowners working out a short sale solution with Bank of the West.

Bank of the West Denied MY Loan Modification, whats next?

Knowing exactly what a short sale is will help you have a better understanding. We work with Bank of the West to negotiate a short sale for you. Our team of Short Sale Experts in New York have a great realationship with Bank of the West and show that your home is worth much less than owed, and to avoid the hassels and expenses of foreclosing, we can negotiate a short sale.

What is the Bank of the West short sale process?

• The lender acknowledges receipt of the file. (This can take 10 to 30 days.)
• A negotiator is assigned. (This can take 30 to 60 days.)
• A Brokers Price Option (BPO) is ordered. (This can take 10 to 15 days.)
• A second negotiator could be assigned. (This can take another 30 days.)
• The file is sent for review or to the PSA. (This can take 15 to 30 days.)
• The bank might request that all parties sign an Arm's-Length Affidavit.(Typically nortorized)
• The bank issues a short sale approval letter.
• Close the sale of your short sale

HOW TO CHOOSE A Bank of the West Short Sale Company

When your loan modification is denied by Bank of the West, you are an ideal canidate for getting the lender to approve you for a short sale. Lenders attempt to work with home owners to save their homes, but when you are denied a loan modification by Bank of the West, they will allow you to short sale 99% of the time. Call us, we will give you other options.

How to Qualify for a Short Sale with Bank of the West

There are many reasons a Bank of the West will allow you to sell your home for less than owed. Any of these situations may qualify you for a short sale. (Note: these are most of them)

• Job loss or unemployment
• Relocation or involuntary job transfer
• Loss of income
• Decrease in working hours
• Medical expenses
• Major repairs on existing home
• Divorce
• Increased living expenses
• Death of borrower
• Short term or permanent disability
• Death of spouse or family member
• Business failure
• Vacant investment properties
• Bankruptcy

where do i FIND A Bank of the West short sale expert

Bank of the West foreclosure vs short sale in New York. It could be the right solution for you. The lender short sale process in New York can be a long and tedious task and negotiations could take months to complete. We strive to shorten this transaction timeline as a company by utilizing our relationships with Bank of the West.

HOW TO HIRE a Bank of the West short sale realtor?

Have a Professional Bank of the West Short Sale Realtor in New York working for you. Our Short Sale Realtors are the top short sale Realtors to facilitate a effortless and smooth short sale. We are the Bank of the West Short Sale Experts in New York. We have proven track record and can negotiate a short sale from beginning to end.

HOW TO FIND Short Sale agents WHO WORK WITH Bank of the West in New York?

We don't just want you to work with any Real Estate Agent, we want you to work with a Short Sale Realtor that is a short sale specialist in New York. What is the difference between a short sale agent and a short sale Realtor who specialize in working with Bank of the West? They both have to be licensed by the Department of Real Estate and follow the real estate laws. They both specialize in facilitating with short sale transactions and negotiations. The main difference is that a real estate agent is a REALTOR when he or she is a member of the National Association of Realtors. A Bank of the West specialized Realtor in New York has to abide by a stricter Code of Ethics and Standards of Practice.

Hire a local New York Bank of the West short sale expert to sell your home. Not all short sales are successful because every lender and situation is different. A short sale expert can examine your circumstances and be very knowledgeable of your options.

WHAT ARE THE documentS requireD for a Bank of the West short sale in New York?

When qualifing for a Bank of the West short sale, most banks will require the following documentation to approve your short sale in .

• Recent Mortgage Statement
• 2 most recent months of paycheck stubs (if employed)
• 2 most recent months bank statements
• 2 most recent years W2's
• 2 most recent years Tax Returns
• Property Tax Bill (If it is not included in the mortgage)
• Property Insurance Bill/ Statement (if it is not included in the mortgage)
• Homeowners Assoc. Bill (If you have a Homeowners Association)
• Sellers hardship letter
• Complete financial statement
• Letter of authorization (which lets your short sale agent speak to the bank)
• HUD-1 or Preliminary Net Sheet
• Comparative Market Analysis or list of recent comparable sales

How do i write a Bank of the West hardship letter?

The Bank of the West hardship letter only needs to be about a page long typed out explaining your situation and how your circumstances have changed. The lenders want to know why you are not able to make your mortgage payments. Contat us today for a break down on how to write a proper Bank of the West hardship letter.

some history about Bank of the West

Bank of the Westbegan as Farmers National Gold Bank of San Jose, California, in 1874. In 1880, when all bank notes became convertible to gold or silver, the bank converted from a gold national bank and changed its name to the First National Bank of San Jose, California.

First National Bank of San Jose changed its name to Bank of the West. In 1979, BNP bought Bank of the West and merged in the French Bank of California. Bank of the West bought several other banks and branches throughout the 1980s and 1990s. Bank of the West bought other banks such as Bank of Los Gatos, Central Banking Systems, Atlantic Financial Federal Savings Bank, NorthBay Savings Bank, and purchased branches from Bank of America and Coast Federal Bank. Bank of the West also acquired First Security branches in New Mexico and Nevada. Bank of the West purchased Community First Bankshares, which had 155 offices in 12 states: Arizona, California, Colorado, Iowa, Minnesota, Nebraska, New Mexico, North Dakota, South Dakota, Utah, Wisconsin, and Wyoming in March 2004.