I just learned today that Bank of America is the ONLY major bank who has not agreed to the HAFA legislation.
Apparently, they do not want to give up their right to perscute a distressed seller, even after an acceptance of short sale on THEIR terms.
And the other little tidbit of information I learned today is that now Wall Street is going to be involved in the after sale process of a short sale.
Apparently now, Wall Street will now be in the game to do Bank of America's dirty work in attempting to collect the deficient amount of the short sale from the seller, and that these deficiency judgements will be sold off at a discount to Wall Street by Bank of America. Much like the secondary loan market.
Does this not freakin' amaze you how these greedy corporations, even after the devastation they have created, continue to look for ways of bleeding even the few ounces of blood left to a consumer?
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