Got another BofA short sale this week.
I know. I said never again but this is a family friend. He hasn't made a payment in 19 months and BofA just filed the NOD. So, now I have 90 days plus 21 to get this thing into contract and sold.
BofA still holds my all time record for LONGEST AND MOST PAINFUL short sale at 36 weeks! I could have had a child during that time. But, we closed and my client is eternally grateful. Which is why I got in this business to begin with.
I really enjoy making the impossible possible and truly changing people's lives financially, physically, emotionally and even spiritually - there are lots of deals that never would have made it without trusting in a higher power to make it happen!
My last BofA short sale I spent 6 months selling this fixer 3 times only to have B of A decline it because they wanted another $50K! Turns out that it was government insured so they made more money selling it to the government than what the market would bear.
I am hoping this time is better. Bank of America has changed the way they initiate their short sales. We are supposed to open them with Equator and there is a promise of really making them happen in a short period of time. I have already checked to make sure this loan is NOT government insured and the property is great.
I bet I get it in contract, for the first time, this week.
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