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Northeast OH Short Sales: Bank of America Still Has Huge Problems

Northeast OH – In 2010, an agent I know talked to the person at Bank of America in charge of the Loss Mitigation Department.

He was the top manager in the department that handles short sales, loan modifications, and foreclosures. He contacted this agent because agents were banding together to educate the public on . . . → Read More: Northeast OH Short Sales: Bank of America Still Has Huge Problems

Northeast OH Short Sales: How To Do a Bank of America Cooperative Short Sale

Northeast OH – You can hire a real estate agent if you want to, but it’s not a necessary step to get preapproved for the short sale. I help my sellers get preapproved but not every short sale agent offers this type of service because we don’t get paid to do it

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Northeast OH Short Sales: Drawbacks To Bank Of America's New Short Sale Program

Northeast OH – Despite the fact that the Cooperative short sale may help the borrower leave the home without some of the negative aspects of a foreclosure, it has its drawbacks that you may need to consider before you decide to explore this option. Below are some of the drawbacks:

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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 . . . → Read More: Northeast OH Short Sales: Why Bank Of America Is Offering A New Short Sale Program

Northeast OH Short Sales: Benefits of Bank of America's New Short Sale Program

Northeast OH – Bank of America’s Cooperative Short Sale makes the entire short sale process easier for everyone involved.

The bank has rolled this out because a short sale reduces their losses compared to a foreclosure. A short sale is quicker than a foreclosure and it doesn’t tarnish the bank’s reputation as much as . . . → Read More: Northeast OH Short Sales: Benefits of Bank of America’s New Short Sale Program

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 . . . → Read More: Northeast OH Short Sales: Good News On Bank of America Short Sales

Northeast OH Short Sales Are Improving

Northeast OH – We recently saw something positive on short sales with Bank of America. Bank of America recently sent out an email stating that you can no initiate the short sale process without a buyer.

The agent can start the process and get things going before a buyer makes an offer to purchase . . . → Read More: Northeast OH Short Sales Are Improving

Northeast OH Short Sales: Will Bank Of America Approve Short Sales With No Deficiency?

Northeast OH – The Stop Foreclosure Institute recently received this question from another agent. Here was his question.

“”Have you had any luck getting short sales done with no deficiency with Bank of America? My seller is a young couple. They received a job transfer but are very upside down on the house. David”

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Northeast OH Short Sales: Is It Ethical For Lenders To Make Millions At Your Expense?

Northeast OH – Many lenders do not own the loans they handle. Instead, they are paid by the actual loan owner to collect payment.

In my opinion, the banks make millions by understaffing their foreclosure departments? Here’s a real life example. A bank forecloses on a house and waits for over a year to . . . → Read More: Northeast OH Short Sales: Is It Ethical For Lenders To Make Millions At Your Expense?

Questions Buyers Should Ask The Agent Listing A Northeast OH Short Sale

Northeast OH – Are you looking to buy a short sale? Before you make an offer, you need to check and see how competent the listing agent is at short sales.

The listing agent is the agent with the property for sale. They will usually be in charge of processing the short sale with . . . → Read More: Questions Buyers Should Ask The Agent Listing A Northeast OH Short Sale