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bank of america short sales: Another important announcement from Bank of America - 05/16/12 09:35 PM
Bank of America made another important announcement yesterday regarding short sales....this one is for a limited time!
Bank of America has made several changes over the last few months to help make the short sale process easier and faster. This change could mean relocation assistance of $2,500 to $30,000 for Elk Grove homeowners doing an Elk Grove short sale with Bank of America! Read more
If you are an Elk Grove homeowner thinking about selling your Elk Grove home and you are upside down on your mortgage or behind in your payments, now is a good time to get your home on … (1 comments)
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bank of america short sales: Changes to Bank of America's valuation dispute process - 05/03/12 12:09 PM
More changes are happening with Bank of America's short sale process! This should make the process of disputing their valuations at least a little more simplified! One stumbling block in the past that has been difficult to overcome is if the BPO or Broker's Price Opinion comes in higher than the agreed upon purchase price between the buyer and the seller. In the past there was no standarized process to dispute this. In fact, in one case we had the BPO value was over $50,000 over the agreed upon price because the agent completing the BPO did not take into account … (1 comments)
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bank of america short sales: Bank of America Short Sale Changes - 12/14/11 10:56 PM
Bank of America really is always trying to improve their short sale process. We find working on the Equator system, www.Equator.com with Bank of America much easier than faxing or emailing documents to other lenders. And now Bank of America has announced improvements to the HAFA (Home Affordable Foreclosure Alternative). "When a non-GSE short sale is submitted with an offer and the homeowner is HAFA eligible, we will no longer halt work on the file while waiting to contact the homeowner." In addition, the homeowner now does not have to contact Bank of America to initiate the HAFA process. Now, real estate agents … (2 comments)
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bank of america short sales: Bank of America Cooperative Short Sales - 03/24/11 12:48 AM
I was on a webinar today with Bank of America about their new Cooperative Short Sale program. This could be good news for Elk Grove homeowners who have fallen behind on their mortgage payments and are considering a short sale.
Many distressed homeowners have heard that the short sale process takes forever, maybe a year, but at least several months. That just isn't the case any longer and with the new Bank of America Cooperative Short Sale program, time frames should improve once again. Bank of America is committed to improving the short sale process. The improved process allows Elk Grove homeowners to … (6 comments)
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bank of america short sales: Short Sale Approval with Bank of America in 22 days! - 12/11/10 11:22 AM
WOW! What a great day! We have helped another homeowner avoid foreclosure!
The owners of this Sacramento Short Sale came to us the end of October 2010 and were having to make a difficult decision. Due to a job transfer and some medical bills they were having to relocate to southern California. They were not going to be able to keep this Sacramento home and make their move. The potential rent would not cover their house payment; they would be in the hole each and every month about $600+. So they made the decision to try a short sale.
Their current … (9 comments)
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bank of america short sales: What is Bank of America thinking? Or will this roller coaster ever end? - 12/01/10 01:25 AM
I received a counter offer today from Bank of America on one of our Galt short sale listings. The offer made by the buyer was at $135,000 and the counter came back at $160,000 today.
But this isn't the real problem....let me give you some history on this Galt Short Sale. The seller came to us a few months ago after not paying his payments for 18 months. We listed the home and received an offer at $135,000 within a week or so. We started negotiating with Bank of America as well as with the second. After a couple of months … (5 comments)
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bank of america short sales: Latest Bank of America Elk Grove short sale - 09/04/10 11:15 AM
Just a quick story about a Bank of America short sale we are currently negotiating. The short sale is ona property in Elk Grove and we have had it pending twice before....Bank of America approved the hardship and approved the short sale however, the 2nd loan with Resolution Trust has been much more difficult.
Resolution Trust wants $9,000 or approximately 10% of the $90,000 owed to them, instead of the $3,000 that Bank of America has approved. Twice we have lost buyers over this, as the seller does not have the additional $6,000 to pay to the second and both buyers … (0 comments)
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bank of america short sales: Is this a disturbing trend in short sale closings? - 06/29/10 10:44 PM
Short Sales have become the predominant market in our area recently and we have had more and more success closing them. However, I have recently had 2 troubling escrows when I represented the buyer in a short sale closing. Each one has occurred after the buyer has signed and deposited money into escrow.
The first one occurred a couple of weeks ago. We were ready to close, the seller went into escrow to sign her papers and was faced with a tax consequence that she had to pay in escrow to the tune of $7,000. Seller didn't have the funds, so … (8 comments)
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Lori Mode and Bruce Durham 916-230-0371 DRE License #00935148 and #00875356
Elk Grove,
CA
More about me…
Keller Williams Realty - Elk Grove, CA Homes for Sale
Address: 9250 Laguna Springs Dr., Suite 100, Elk Grove, CA, 95758
Office Phone: (916) 405-5737
Cell Phone: (916) 230-0371
Email Me
DRE License #00935148 Lori Mode & Bruce Durham of Keller Williams Realty, Sacramento Real Estate including Elk Grove and surrounding areas, including home listings, home prices, community information, local statistics, foreclosures and short sales.
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