Bank of America’s Cooperative Short Sale Program REBLOG!

Reblogger Kevin B. Tolbert PA Team
Real Estate Agent with Keller Williams Realty of Port Saint Lucie BK3059813

It's about time that we start seeing proof that the banks are getting more understanding about these short sales.  Maybe we can start washing out the rest of these so we can get back to recovery mode.  Thanks so much for the explanation.

Original content by Stephanie Anson

Bank of America’s new Cooperative Short Sale Program will benefit Gainesville short sales with its fast processing for approval letters.

The bank ventured into this new program to earn more profit and help Gainesville FL homeowners to avoid foreclosure on their homes by allowing them to have all possible options. With this Cooperative Short Sale Program, you no longer have to wait 60 days for a representative to be assigned to your Gainesville short sale.

A Cooperative Short Sale starts with a hardship letter sent by the homeowner to the bank. It contains the reasons you are facing a hardship. It tells your story and must be factual. The bank will most likely offer a loan modification that can be a pre-requisite in gaining a Cooperative short sale approval.

Once the loan modification is no longer feasible, the Cooperative Short Sale comes into the picture. The bank will then give a listing price. Unlike the conventional 3-6 month period for Gainesville short sales, buyers’ offer may be given an answer just within a week.

A reevaluation of the Gainesville short sale home happens every 21 days so prices may be lowered until an offer comes.

The Cooperative Short Sale program is a great opportunity for Gainesville Fl homeowners.

To view original article, click here.

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Rainmaker
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Patrick White
Home Driven Realty, Inc - Baldwin, NY
Put our 28 years experience and technolgy to work

Good Evening Kevin

Thanks for the post and re-blog. Have a great day

Feb 17, 2012 08:47 PM #1
Rainmaker
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Kevin B. Tolbert PA Team
Keller Williams Realty of Port Saint Lucie - Saint Lucie West, FL
New Home Construction and Luxury Specialist!

Patrick

YOu are most welcome and please take any of mine you would like to share.  I need the points as I am trying to get 200K in 1 year and this is a monumental task. 

Feb 18, 2012 06:46 PM #2
Rainer
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Marge Piwowarski
Phoenix AZ Horse Property - Phoenix, AZ
Phoenix AZ Horse Property, LLC

Kevin,

Great localism post and I hope it helps some of the people who need it! 

Feb 18, 2012 07:29 PM #3
Rainmaker
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Kevin B. Tolbert PA Team
Keller Williams Realty of Port Saint Lucie - Saint Lucie West, FL
New Home Construction and Luxury Specialist!

Marge,

Thanks so much for stopping by and we hope so as well.  Please feel free to visit my other blogs and leave comments or reblog anything you find interesting.

 

 

Feb 19, 2012 05:35 PM #4
Rainmaker
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Kevin B. Tolbert PA Team
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Thanks again spammers for more free points.

Aug 12, 2012 08:12 PM #5
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