Twitter Counter

Northeast OH Short Sales: Why Bank Of America Is Offering A New Short Sale Program

Northeast OH – A cooperative short sale may be a good option depending on your situation.

But, you need to remember that Banks are not in the business of making life easier for its customers, much less anyone trying a short sale.

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

Banks are in business to turn a profit. The main reason Bank of America has initiated the Cooperative Short Sale is to increase the bank’s bottom line profit.

They increase their profit whenever they cut losses on loans that are in default. The bank faced several problems:

1. They have a bad reputation for taking too long to process short sales and loan modifications.

2. Due to the length of time to buy a short sale, buyers are making lowball offers.

3. Many agents are in experienced on short sales and unsure of what to do. As a result, many agents were in the dark on where to price a short sale property.

Before listing the property, Bank of America will provide the terms such as the list price and deficiency judgments. In doing so, the bank is able to provide a shorter decision time once an offer is received.

In fact, Bank of America claims that once an offer is received, they will provide a decision in 10 days!

This simply means that Buyers will be less frustrated with the purchase process and more willing to wait for it to be completed.

With a traditional short sale many Buyers get frustrated and walk before a response is received on the short sale. 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.

Leave a Reply

 

 

 

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>