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BofA completes more short sales than REO for last 18 months

SHORT SALE vs FORECLOSURE (REO) * per the bofa portfolio manager, short sales net the bank 12% to 20% more on average than Foreclosures. This is due almost entirely to what a Short Sale sells for vs. a Foreclosure. Part of the value difference are the damage often caused by out going home owners or by vandals to vacant homes.

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LPS, as the company is known, is the biggest U.S. mortgage-and-foreclosure outsourcing firm. Last. 18 when a group of major investors claimed that Bank of America’s Countrywide Home Loan Servicing.

If you’re in trouble on your mortgage and can’t get a loan modification, check out the Obama administration’s standardized short-sale plan that’s scheduled to roll out in the next several months.

I hope that it does not come to this, but I have had to do this in the past to insure.. How about this, if you list the short sale for 417K, submit a offer then the bank. Typically, banks will get more money by selling a house short.. Mon Dec 18, 2017. The offer for $220,000.00 3 months ago was declined by Bank of America.

Just bought my first short sale. wanted to share a timeline. Bank of America. I had a short sale with them wherein we went through 5 negotiators before I got one that was capable of answering emails and calls and giving me. I’ve seen short sales take 12-18 months to get approved, just.

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The Bank of America conducted a seminar yesterday for its designated REO agents in San Diego. No new game-changers, but plenty of confirmation of what we’ve been experiencing – short sales and loan mods have dominated the space in 2010:

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Fact: While only the credit reporting agencies that calculate your credit score will know for sure, it’s possible that a short sale might be better for your score than a foreclosure. Even if it isn’t, a short sale gives you time to find a more affordable place to live and exit gracefully from your obligation.

Explore Jon Haug Prosperity Home Mortgage’s board "Short Sales & Foreclosures", followed by 112 people on Pinterest. See more ideas about Shorts sale, Real estate tips and Real estates.

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