Montgomery County Short Sales: Drawbacks To Bank Of America’s New Short Sale Program Montgomery County MD – Despite the fact that the Cooperative short sale may help the borrower leave the home without some of the negative aspects of a foreclosure, it has its drawbacks that you may need to consider before you decide to explore this option. Below are some of the drawbacks: Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Deed in Lieu. In the event that your home does not sell, then the program stipulates that the next step is [...] Click To Open This Post

Montgomery County Short Sales: Why Bank Of America Is Offering A New Short Sale Program Montgomery County MD – A cooperative short sale may be a good option depending on your situation. But, you need to remember that Banks are not in the business of making life easier for its customers, much less anyone trying a short sale. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Banks are in business to turn a profit. The main reason Bank of America has initiated the Cooperative Short Sale is to increase the bank’s bottom line [...] Click To Open This Post

Montgomery County Short Sales: Good News On Bank of America Short Sales Montgomery County MD – Bank of America is rolling out a new short sale program that will provide the quickest route to a short sale decision. The bank came up with this programs to help ensure that homeowners are able to explore all their options and avoid foreclosure. This program, named the Bank of America Cooperative Short Sale Program, minimizes the challenges of traditional short sales – such as having to wait up to 60 days for a representative to even be assigned to your sale. Click here [...] Click To Open This Post

Montgomery County Short Sales: Why Might a Short Sale Be Preferred Over a Loan Modification? Montgomery County MD – Homeowners who would prefer to get out from underwater may prefer to do a short sale compared to a loan modification. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. A short sale means the bank will accept a reduced payoff and release the loan. If your home is worth dramatically less than the amount owed, it might make more sense to do a short sale and be relieved of the burdened debt. Loan Modifications [...] Click To Open This Post