Friday, October 2, 2009

Bank of America - REO maintenance notices

For those of you servicing Bank of America REOs, we have received the following messages recently from their reps:

  • Once we have an accepted offer that no bills, liens, HOA fees and/or repairs will be paid on the HUD. VA has advised us that these will need to be paid prior to closing and submitted to New Invoice for reimbursement. Please do not send any of these things to the closing company, closer or myself to be paid on the HUD. There are NO exceptions to this rule. Thank you!
  • All in-ground pools should be winterized and covered; DO NOT DRAIN. In freezing temperatures, the ground heaves and moves. No water makes the foundations of pool and pool walls move, ultimately cracking them.

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