Bank of America has rolled out a new Short Sale Program called the Co-opertive Short Sale. If you are a home owner or investor in default in Arizona on a Bank of America mortgage; Bank of America has a program that will give the property owner $2500.00 if you sign up for this program. The property owner no longer has to provide tax returns, pay-stubs and hardship letter. This Co-opertive short sale program expidites the short sale process.
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To Buy and Sell Real Estate, see me at Southwest Missouri Realty - Springfield, MO
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Seriously, that is amazing. Amazingly sad, that the matter how your short sale comes to be, Good or bad, you get $2500. Not feeling
Aug 26, 2011 10:15 AM
Taylor Morrison Home Funding - Henderson, NV
The cooperative short sale is the way it should be. Its about time right? I've been doing these for a smaller bank as sort of a test for them. They have been very slow to completely roll out the program with all of the needed support though. I'm hearing more and more banks talk about beginning to do this as well Its about time they finally get their short sale departments in order and actually COOPERATE with the cooperative short sale.
Aug 26, 2011 10:16 AM
Keller Williams Realty STL - Saint Louis, MO
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Bank of America is way behind Chase. My seller just got $10000 for cooperating and I have heard that the Chase program goes up to $30000 in incentives. It is called the Short Sale Outreach Program.
Aug 26, 2011 10:33 AM
Home Smart Realty - Phoenix, AZ
In Arizona Bank of America is doing catch up. There are still too many qliches with Equator to handle the volume. I do believe the BoA should up the Co-Op fee to at least $5000.00 to encourage homeowners to do more short sales rather than foreclose and bring values down futher. Either way Bank of America will pay now or pay more latter. What do you think?
Aug 26, 2011 02:09 PM
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