BofA completes more short sales than REO for last 18 months

So, you essentially live rent-free for 18 months, save up that money, and you have a nice down payment for another property, or rent for a couple of years.. But you don’t actually get out of the complete mortgage.. Neither option is great but short sale is less bad than foreclosure. Both.

Five Reasons Why Short Sales are Declined how to do a short sale « Short Sale Chicago –  · The nation’s biggest mortgage servicers- Bank of America(BAC _), banks and government officials is aimed at stabilizing the real estate market and helping underwater borrowers who are months behind on mortgage payments avoid foreclosure.. Do banks prefer foreclosures? No, a short sale is more beneficial to the bank and to the homeowner.

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Before I tell you how to do a Bank of America cooperative short sale, I have a disclosure for you. When Bank of America’s stock was moving into single-digit territory, I bought a bunch of it. That’s because I believe, regardless of what you may hear, that Bank of America turned the corner with its short sales and distressed properties.

If you want to sell your house but it’s worth less than the amount remaining on the mortgage, a short sale may allow you to sell your house and settle your mortgage debt. By completing a short sale rather than allowing your house to go through foreclosure, you avoid eviction and your house won’t be sold at a public sale or auction.

JPMorgan Chase reportedly settles with FHFA for $4B CHICAGO, Oct 29, 2013 (BUSINESS WIRE) — JP Morgan Chase’s (JPM) $4 billion settlement with the Federal Housing. potential size of future settlements, see the special report, "Global Banks: FHFA.NAR existing home sales increase 2.1% in October Todd Mobraten announces resignation from USRES, res.net century 21 real estate announces Agreement with RES.NET – Century 21 real estate announces agreement with RES.NET. Share This Post Now!. "We’re very excited about this new relationship," says Todd Mobraten, COO of USRES, the parent company to.Total housing inventory at the end of November decreased to 1.74 million, down from 1.85 million existing homes available for sale in October – that’s an increase from 1.67 million a year ago, however. Unsold inventory is at a 3.9-month supply at the current sales pace, down from 4.3 last month and up from 3.5 a year ago.

On Wednesday, the court- appointed monitor of the settlement said Bank of America, JPMorgan Chase, Wells Fargo and Citigroup were more than halfway done with their requirements to offer borrowers aid.

Short Sales Are Back baby! At least sort of. Here’s the deal, we’ve never stopped doing them and we’re seeing more short sales than at any point in the past few years. We know you may want to do them so please consider referring it to us. Send us a message we’ll reach out and chat about it.

Bloomberg.com noted back in 2012 that the Bank of America Corp. topped both JPMorgan Chase & Co. and Wells Fargo & Co. when it came approving short sale transactions. Instead of focusing on foreclosures, Bank of America has been emphasizing alternative options, including deeds-in-lieu of foreclosure and short sales.