Getting Short Sales Approved

Bank of America is sending out a report to help agents and their clients better understand the implications of short sales and to explain BofA’s short sale process.

Most of this is common sense and common knowledge. There were two parts that I thought were interesting.

1. A short sale is now “only encouraged after all home retention efforts have been exhausted. Meaning, they are going to try like crazy to modify your loan instead of allowing the short sale.
2. They say that they can complete the process in 90 days. I would happily eat my socks if they ever completed a short sale in 90 days.

Here is the Bank of American Short Sale Overview:
Short Sale Overview Bank of America