Bank of america short sale home listing
The first step to initiating a Bank of America Short Sale is to list the home with a Realtor who specializes in short sales. The listing will be handled like a standard real estate listing. Our team aggressively markets the property at market value in an attempt to obtain an offer in the first. Find information on foreclosures, real estate owned (REO) and bank-owned homes and properties from Bank of America's Real Estate Center®. Get the tools.
Bank of america short sale home listing -
The Selling Process. If there is another lien holder in addition to Bank of America, the short sale package will also be sent to them and the short sale will be negotiated with both banks. Jim, if there's a decrease in the Net, the approval will have to change and that's what could take on a new review. While a foreclosure essentially lets you walk away from your home—albeit with grave consequences for your financial future, such as having to declare bankruptcy and destroying your credit—completing a short sale is labor-intensive. Call us Monday - Friday 8 a. Call us for additional details on acceptable hardships. How does a short sale affect your credit? Misunderstanding 2. Of course, you want to sell the home for as close to the value of your mortgage as possible, but in a down market, there is bound to be a shortfall. In some states, even after a short sale, the bank will expect you to pay back bank of america short sale home listing
or part of that shortfall.