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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with mortgage assistance negotiations. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**

Bank of America Mortgage Deed In Lieu Of Foreclosure

Deed In Lieu Decline

BAC Deed In Lieu Application Denied?

BAC Loan Mortgage DIL Process

How does a deed in lieu work? Learn.

BAC Deed In Lieu Negotiators. We're On Top.


BAC Deed In Lieu of Foreclosure Process

If your mortgage is being serviced by BAC, we at ACG, see that our clients go through a process is pretty standard that’s similar to most other banks:

  1. Our team calls in to speak to your BAC Counselor over the phone (sometimes we have to up an appointment to get a call back) but once we are in touch with them it triggers the beginning of the deed in lieu of foreclosure application process.
  2. Bank of America Mortgage’s Request for Mortgage Assistance (RMA) Loan Paperwork is needed to complete the application.
  3. In some cases, they will require you to go through a loan modification review prior to reviewing you for a DIL.
  4. Also, in some cases, they will require you to attempt to sell the property prior to allowing you to deed it back to them as they prefer you try to sell it before they take on the liability of owning the property.
  5. Next steps to complete a deed in lieu of foreclosure is having your property title checked.
  6. Bank of America Mortgage will complete a property valuation on behalf of the investor/beneficiary (Certain Investors Require Two Interior Inspections)
  7. Next, we have to negotiate the terms with BAC about relocation terms and time frames.
  8. Lastly, your lender (Bank of America Mortgage) provides a response to the deed in lieu of foreclosure made to them.

If you’ve dealt with trying to find assistance with BAC it’s never as easy as going through the checklist above. There are always hoops you have to jump through or if feels like something always pops up. Not to worry that’s why Absolute Consultant Group, with more than a decade in the business, are here to help you streamline the process. After more than a decade of experience, we know that we will have to run around from department to department at Bank of America Mortgage to get the job done for you. Maybe you’ve been going the process of trying to get a Loan Modification with BAC for years and it’s possible that department may need to close out your application or review. Maybe the short sale department has your file because their trying to push you to sell the home first. We are here to do all the running around for you. Above all, you need to know better when they are sending you in the wrong direction. Often clients come to us after submitting the wrong information on their deed in lieu application, getting denied, and not being able to figure out what happened. We can help you through the process of doing a deed in lieu of foreclosure even if that means reviewing a decline made by Bank of America Mortgage.

Bank of America Mortgage Deed In Lieu Timeline

Like any bank, BAC Deed In Lieu of Foreclosure timelines can vary greatly. Sometimes it’s obvious but other times it may not be so clear on what’s going behind the scenes. These are just a few of the hoops we jump through when dealing with a deed in lieu with BAC.

  • To begin with, BAC is not the bank as many like to put it they are just a servicer of mortgages. “Bank of America Mortgage”  found on many of their documents, like the BAC Deed In Lieu Forms, is a clear indication of this. As such, BAC Financial Corporation’s mortgage division abides by what is called the “PSA” or Pooling and Servicing Agreement that governs the pools of mortgages they service. The PSA is like a  contract between servicer and beneficiary of the mortgage note. Therefore, making a decision for a BAC Customer is not always possible. BAC, in many cases is not delegated (non-delegated) which means BAC has to request permission from the mortgage investor that calls the shots. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers and take care of many of the decisions themselves. As always the greater the number of hands in the put the more layers of bureaucracy you’re going to deal with.
  • Additionally, the timeline of the deed in lieu is affected by whether or not your BAC Loan has a foreclosure sale date. Bank of America Mortgage is tough when it comes to homes in foreclosure and stopping the sale date for a BAC Deed In Lieu to be completed. Bank of America Mortgage has homes being sold at auction every business day. Sale dates even for the coming week are not working with urgency. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
  • Finally, not all negotiators were created equally. This goes for both sides which is what makes the process so tricky. Miscommunication for such a large endeavor can lead to certain failure. Understanding this niche of representing homeowners in front of BAC Financial Corporation for the deed in lieu application is a specialized skill. Often you will be put through the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are for the banking institution who owns the interest in the loan.

BAC Deed In Lieu Timeline Conclusion: Your BAC Deed In Lieu of Foreclosure Timeline changes based on many different factors including but not limited to the ones mentioned above. If a decision can be made by BAC themselves it will often be a quicker process than having to send out for approval. Other factors such as what they perceive the value of the property may also impact the negotiations. If you have other liens this is also likely to limit your ability to complete a deed in lieu. How fast Bank of America Mortgage’s Loss Mitigation department receives the BAC Deed In Lieu Forms to apply for mortgage assistance are received (readable) and other factors will come together to affect how long it will take for your BAC Deed In Lieu application will take to be Approved.

If Your BAC Loan Deed In Lieu of Foreclosure Was Denied There May Still Be Options.


How To Fix A BAC Deed In Lieu Decline?

It really all comes down to why yourBank of America Mortgage was declined which may be often be confusing. We have seen, which goes back to what we mentioned above about communication being important. Often they will not be clear not only as to why but if there is anything that can be done to fix it.  Here at ACG we review dozens of points in order to understand why your BAC deed in lieu offer was rejected. Have us review your declined deed in lieu for free by calling us at 888-934-3444.

BAC Home Mortgage Deed In Lieu Reviews

BAC Deed In Lieu Complaints

Often we ourselves have gotten on the phone with Bank of America Mortgage for one of our Customers where we received one answer about our deed in lieu of foreclosure application and on a later called we get a totally different answer. They told us the deed in lieu was approved and then later it was declined. When dealing with a Loan Servicing that happens overseas getting a straight story can be difficult with your Bank of America Mortgage.

BAC 1 Star Review:

I called in several times and it would take VERY long to even be allowed to talk about the account. I am filing a notice with the CFPB.

Nancy, Carlsbad, CA

BAC1 Star Review:

Bank of America is the worst bank in history. The customer service people are always rude. I have had Bank of America for a while now, and I wish I could have a better bank. Trying to lower my interest rate, tried to modify my mortgage, tried getting approved for HARP. And this Bank of America won’t work with no one. I hate this Bank.

Harry, Brooklyn Park, MD

Don't Be A 1 Star Review


Don't Be A 1 Star Review


BAC1 Star Review:

I’m refinancing my mortgage. The title company needs the payoff information. They have requested it to be faxed twice. I’ve requested it twice. We’ve received nothing after two weeks. Every other company and loan I’ve ever dealt with allows the loan owner to print the payoff document from their website with a log on. BOA does not have that option and they don’t respond to requests timely. This is extremely frustrating and quite frankly, ridiculous. I will never use them again.

Beth, Black Creek, WI

1 Star Situations Happen Every Day


ACG 5 Star Review:

Tried modifying my mortgage loan on my own, twice actually, but no luck. Until I called ACG. [I] got my loan mod approved and all is well.

Michael, Woodland Hills, CA

ACG 5 Star Review:

We were struggling trying to get assistance in keeping our home for over a year when I was introduced to ACG Today both my homes are modified and our family has a chance for a fresh start.

Patricia, Porter Ranch, CA

ACG 5 Star Review:

I have worked with [the] team personally and professionally referring them many clients over the past few years. If you need help with a loan modification, short sale, or want to avoid foreclosure I highly suggest you use Absolute Consultant Group!

Daniel, Santa Clarita, CA

You Know You can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your BAC Mortagage.

You Know You can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your BAC Mortgage.

BAC Deed In Lieu News

Bank of America Mortgage Foreclosure Process

**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with...

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