BofA completes more short sales than REO for last 18 months

Fannie Mae Cracks Down on Strategic Defaulters Bank of America set to write down principal on California mortgages “I used to keep a journal, and I’d write down every movie that I saw and where I saw it and. the concept of a cinematic universe – and along with it the idea that a set of characters from one movie.Fannie Mae recently announced their plans to lock strategic defaulters out of new loans for seven years! However, in an attempt to encourage borrowers to work with their lenders to produce less-costly outcomes, as of July 1, 2010, Fannie Mae cut in half the amount of time short sellers have to wait to become owners again.

Bank of America foreclosure timeline. Thread starter KFish; Start date Jan 29, 2010;. by the time they could get me out my house at least 10 to 12 months if not more. Cool down payment on a short sale house. Scott said to me BOA doesn’t start foreclosure proceedings until you’re 4 months.

How long does a Bank of America short sale approval take? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Go into foreclosure only as a last resort. People who successfully complete a short sale might also qualify for a mortgage at a reasonable interest rate in as little as 18 months. For more.

Why Bank Of America Fired Me Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix If you do not qualify for the Home Affordable Modification Program (HAMP) or other modification programs that we offer, you will be considered for other foreclosure prevention programs, such as short sale or deed in lieu of foreclosure.

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Help With More Bank of America products; foreclosure alternatives. call us. 800 846 2222.. The court issues a judgment and a foreclosure sale date is scheduled. Legal notices may be published in local papers.. Link your Bank of America Interest Checking account to your Rewards Savings.

Bloomberg.com noted back in 2012 that the Bank of America Corp. topped both JPMorgan Chase & Co. and Wells Fargo & Co. when it came approving short sale transactions. Instead of focusing on foreclosures, Bank of America has been emphasizing alternative options, including deeds-in-lieu of foreclosure and short sales.

The Complete Short Sale Process From Beginning to End . Menu Search Go. Go. investing. basics. The dollar amount of a short sale offer is right there on the table and it’s often more than the lender is likely to get for the property in a foreclosure auction. That said, banks aren’t in.

So yesterday Bofa sent us back a counter saying that they would pay 3% instead of the 4500 in closing .. Anyway we signed the contract now we have to wait for the approval letter our realtor is saying it should here by the end of the week ..

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Home CA pending home sales post first increase in 18 months. CA pending home sales post first increase in 18 months.. BofA completes more short sales than REO for last 18 months.