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Northeast OH Short Sales: Good News On Bank of America Short Sales

Northeast OH – Bank of America is rolling out a new short sale program that will provide the quickest route to a short sale decision.

The bank came up with this programs to help ensure that homeowners are able to explore all their options and avoid foreclosure.

This program, named the Bank of America Cooperative Short Sale Program, minimizes the challenges of traditional short sales – such as having to wait up to 60 days for a representative to even be assigned to your sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A cooperative short sale starts with a phone call from the homeowner to the bank. The homeowner explains to the bank that he or she has suffered a hardship, and will no longer be able to make the mortgage payments.

The Banker and the homeowner will probably discuss a loan modification. In fact, this may be a pre-requisite to entering into a cooperative short sale.

Once the bank has determined that a loan modification is not a viable option, and after documents have been presented to the bank that show the home owner’s hardship, then the bank is not left with any good options than the cooperative short sale.

The next step in the process is for the Bank to order an appraisal. The property is then listed with a Realtor at the appraised value of the house, and the Bank agrees to sell the property at the appraised price.

Buyers can get an answer on their offers within only a day or two, not the 3-6 months a traditional short sale takes. This is because the short sale is pre-approved.

The Bank also understands that the appraisal may have come in high, and if the property doesn’t sell in 21 days, the price gets lowered every 21 days until an offer comes in.

We think this is a great new program that will make short sales much easier for everyone involved. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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