Bruce D. Stuart, Attorney at Law

November 15th, 2012

Cooperative Short Sales Rule! Yay for B of A!!! The best thing about cooperative short sales is that they do the BPO first, and then let you market the property at the approved value. This makes much more sense than making agents deal with the complex game of sumbitting a dummy offer, only to find out the actual price once the bank counters. It really makes the most sense for banks to do cooperative short sales. Something to think about is that the sale date must be far enough away to allow time for the bank to do the BPO, and get the value back to you. I started a cooperative short sale on a property in Victorville, CA in August, and collected my commission check 4 months later! In addition to the better organization that the cooperative short sale provides, the bank was also able to offer the Seller a larger incentive than the typical $3,000 HAFA incentive. In this case, the lender was able to give the Seller $7,700! Cooperative Short Sales Rock, and I suggest that you jump on the opportunity to do one. Cheers to Bank of America for putting in place such a logical way to short sale a home!!!

September 6th, 2012

If you've applied for a Loan Modification, you have probably had to fill out a form similar to the one displayed, called an RMA form. This form was created by the U.S. department of the treasury, and distributed for loan modifications for lenders such as Bank of America, Nationstar, Wells Fargo, and many others. Why is this form, so widely distributed, contain such illogical questions, and have such bad formatting?

RMA form Making Home Affordable

It is quite surprising how BAD and totally TERRIBLE the formatting is on these forms, as well as how the logic of the questions seems to make little sense. For example, they ask you questions about your bankruptcy, without ever asking if you have ever actually filed for bankruptcy.

RMA Bankruptcy Box

Shouldn't there be a simple Yes or No question before this, such as "Have you ever filed for Bankruptcy?" and if you answer no, then you skip the Bankruptcy questions. Why has this simple notion of logic completely surpassed the banks, and the United States department of the treasury, who are supposed to be working together in making these forms easy for homeowners to fill out?

No wonder why so many Americans are waiting, re-applying, and submitting more pointless documents, only to be turned down by their lender, or being continually strung along. I am working on putting a submit button on the bottom of our forms with Mike Tomasek from When he saw the RMA form, he found numerous flaws like these, which were laughable. When you think about how widely skattered this RMA form is, it's really sad that it's so poorly made. Just look at how the Checkboxes on page 5 don't even line up:

How has the United States Treasury, the banks, and everyone working for overlooked these clearly visible errors? It's no wonder that loan modifications are so difficult to get.

Here at the Law Office of Bruce D. Stuart, we aim to help you get through these misconstrued forms.

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Categories forms, Loan Modification, Los Angeles, RMA form


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