Does Bank of America hold your mortgage? Then this is a must read

By
Real Estate Broker/Owner with LemonTree Realty

Bank of America is trying to be as proactive as possible in this economy and understands the hardtimes that many Americans have fallen on and even still there are many that just need to sell their home but cant. Over the next few months many home owners with Bank of America home mortgages will begin to receive a Bank of America Transition guide package. If you havent received one yet I have been given permission as a CDPE member to give you a copy, just email me at heather@heathertherealtor.com 

 

Many Americans who have missed payments or fallen on hardtimes just dont know where to turn and feel foreclosure is their only options and Im hear to tell you it's not. If any of the following apply you have options.

1) You want to sell your house but it's worth less then what you owe (you maybe deliquent or not on your mortgage)

2) You have missed payments and are not able to catch up

3) You have tried to modify your loan and cant

 

If any of these options apply to you, you dont have to face foreclosure Bank of America has numerous Short Sale options availablle.

One of the options: Im considering a short sale and I havent received an offer yet

Great news, for those of us living here in Florida there is a new program out that could give you up to $20,000 in relocation assistance, a deficiency waiver, and you get to remain in the home until it sells! (I have a client now that qualifies and will receive when we sell her home through the short sale process $17,068.85)

BAnk of aMerica Short Sale Process

Here's a tip: An experienced real estate agent is important - Reach out ot an agent who has experience with short sales, a proven track record and certified education handling short sales, they are more complex then a traditional sale. Picking the right agent could be the difference of transitioning from your current home with money in your pocket and being evicted. If your in the Central Florida area we would love the opportunity to help. 

 

For a free copy of a the Bank of American Home Transition Guide or to discuss how my team and I can help you on your way to financial freedom send us an email or give us a call. 407-810-6304 or heather@heathertherealtor.com

 

 

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Heather Unger, GRI, NRBA, CLHMS, CDPE, WinDs

RE/MAX Central Realty

www.HeatherTheRealtor.com     (407) 810-6304

Our Team Specializes in Luxury Real Estate, First Time Home Buyers, Short Sales, Bank Owned Real Estate, REO & Foreclosure Properties

Servicing Real Estate Needs in: Lake Mary, Longwood, Winter Springs, Sanford, Altamonte Springs, Oviedo, Orlando, Downtown Orlando, Thornton Park, College Park, Winter Park, Maitland, Windermere, UCF, Lake Nona, Baldwin Park, Apopka, Ocoee & Winter Garden

 

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Rainmaker
3,318,375
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

I know of no lender who would prefer foreclosure to a short sale....and these kinds of packages can be lifelines for people in distress.

 

Nov 01, 2011 12:08 AM #1
Rainer
88,242
Diane Grady
Endless Summer Realty - Saint Augustine, FL

I have a seller who has also received this package. She will receive just over 15k. She has until Nov 4 to sign and is hesitating because she does not trust the system. I am really trying to get her to realize that this is "real". I am worried that they will pull this deal once we pass that date. Not sure what else to do here!!!

Nov 01, 2011 12:10 AM #2
Rainmaker
295,462
Sally English
The English Team - Atlanta, GA
Sally English Atlanta Real Estate Agent

Ha, thx for the heads up.  Will check it out.  BOA has not behaved well in the past on some of my short sales.  Maybe they have seen the light!

Nov 01, 2011 12:11 AM #3
Ambassador
1,200,126
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Howard County & Catonsville

Are you saying that Bank of America are actually doing something right? But then have they cut down the time frames too?

Nov 01, 2011 12:18 AM #4
Rainmaker
300,475
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

It always surprises me when people say that about BOA I love them. Our approval time on average is less then 52 days on their short sales and have receive 2 pre approved short sales with BPOs done upfront!

Nov 01, 2011 12:25 AM #5
Rainmaker
217,525
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

Good to hear that something is going right out there!   Good for Bank of America.

Nov 01, 2011 12:28 AM #6
Ambassador
2,020,321
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

That is good news for Florida residents. . .not such luck in my state. . then again. . its good that we are not in the same burner

Nov 01, 2011 12:36 AM #7
Rainmaker
130,039
Deborah Bly
RE/MAX Space Center - League City, TX
RE/MAX Realtor

Heather, Nice article. In the past BOA has been very slow to deal with. We have noticed that they seem to be picking up their game.

Nov 01, 2011 01:09 AM #8
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Rainmaker
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Heather the Realtor Orlando, Lake Mary

First Time Home Buyers, Bank Owned Homes
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