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Short Sale Revelations by Bank of America.  Bank of America has been at the forefront of trying to save face with their handling of the short sale process and Richard Zaretsky's blog on a FL meeting with the powers that be is a MUST read for any homeowner thinking of a Bank of America short sale.  Buyers of Bank of America short sales need to be prepared that B of A still believes that 4 1/2 months to reach a closing is a great timeframe!  As I have recently discovered with current B of A short sale clients, B of A had previously led these clients down a twisted and unsatisfactory path of loan modification - no success prior to turning to short sales.  B of A, according to Richard, appears not to be promoting any loan modification which to my mind is because it is unsuccessful for the borrower.  Read and heed.  Work with short sale agents that move you through the process and avoid foreclosure especially with Bank of America.
Some of my short sale staff and I met with Bank of America in Miami today at their “Short Sale Summit”.  We had a nice small group that met twice this afternoon - and I got to ask and have ... more

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