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BANK OF AMERICA NEW SHORT SALE CONTRACT PACKAGE
BANK OF AMERICA NEW SHORT SALE CONTRACT PACKAGE
In the never-ending revision of lender rules for short sales, Bank of America recently released a new package of documents preliminary to considering a short sale of a mortgage held or serviced by them. This package of documents eliminates the preliminary arms length affidavit that was in use for a period of time in the late Summer 2011through Winter 2012, and essentially was preliminary to a final arms length affidavit about which I have written several blogs:
SHORT SALE ARMS LENGTH AFFIDAVIT MAJOR REVISION NEGOTIATED TODAY
STAND-OFF WITH FREDDIE MAC OVER SHORT SALE ADDENDUM - ALTA GETS INV...
Freddie Mac Short Sale Addendum - Item #13 - I DON'T THINK SO!!
Here are the individual pages with my explanation of what each says.
 
BUYERS ACKNOWLEGEMENT AND DISCLOSURE
This first page, below is the BUYERS ACKNOWLEGEMENT AND DISCLOSURE. It is signed only by the Buyer. The first part of the document deals with who cannot buy a Bank of America short sale. It has the Buyer affirming that he or she is not in any way related to Bank of America, that no close relatives of the Buyer are so related (including a ... more

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