Bank of America is launching a new cooperative short sale program that will target 2,000 pre-screened homeowners.
The bank has pre-screened borrowers who have been considered for a modification under the Home Affordable Modification Program (HAMP) and a short sale under the Home Affordable Foreclosure Alternatives (HAFA) program. They have either fallen out of both programs or failed to qualify.
These borrowers may not be seeking a short sale but are on the road to foreclosure. The bank's goal is to provide a tailored program with incentives that are attractive to homeowners experiencing a true hardship.
Under this program, no new documents are needed from the seller since their financial information has already been submitted to the bank. BofA is waiving deficiencies, or the difference between what the home sells for and how much is left on the mortgage.
Letters have already gone out to homeowners and they have 120 days to list the property. The bank will not select the agents for homeowners to work with so homeowners should select a qualified short sale agent.
If you are a homeowner and are in distress with a Bank of America loan, or any other bank, call us at 916-956-4912 for more information.
Diane and Doug Briggs have earned the nationally recognized Short Sales Foreclosure Resource Certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows. They are also "Home Affordable Foreclosure Alternatives" (HAFA) Certified.
They are experienced successful Sacramento Short Sale Agents covering the Sacramento Metro Area, including the areas of Elk Grove, Pocket, Greenhaven, Wilton and Galt. Hablamos Espanol. Put our experience, integrity and knowledge to work for you.
Call Diane at 916-956-4912 or Doug at 916-747-1592.
Coldwell Banker
9250 Laguna Springs Drive, #100
Elk Grove, CA 95758
DRE License #: Diane Briggs: 01410348 / Doug Briggs: 01346951
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