Bank of America ending temporary foreclosure “holds”

Houses from the Air(1/17/2013) The below notice was sent to Short Sale Agents by Bank of America

The Bank of America Cooperative Short Sale Program may be able to help your clients complete a short sale if they owe more on their mortgage than their house is worth and do not qualify for the Home Affordable Foreclosure Alternatives (HAFA)
short sale program. This program can streamline the approval process and offers  financial assistance to help homeowners with relocation and moving expenses.

As of January 15, 2013, there will no longer be a temporary foreclosure hold during the Cooperative Short Sale property marketing phase.

We may begin or continue the foreclosure process up until a submitted offer to purchase the property is approved by all relevant parties.  Any existing short sale will not be impacted by this change.

Please remind homeowners to pay close attention to foreclosure notices.

 

For questions about buying and selling real estate in Orange County, contact Scot Campbell.

He is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA.

He has been a licensed broker for over 22 years and has brokered over 1000 homes and just about every type of transaction imaginable.

Read his profile and client reviews at www.ScotCampbell.com

He can be reached at 714-960-0700 at the office, 714-336-0394 on his mobile number or via email at Scot.Campbell@ColdwellBanker.com

photo by: roger4336

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