South Lake Tahoe, CA– Bank of America’s Cooperative Short Sale makes the entire short sale process easier for everyone involved.
The bank has rolled this out because a short sale reduces their losses compared to a foreclosure. A short sale is quicker than a foreclosure and it doesn’t tarnish the bank’s reputation as much as a foreclosure.
Banks don’t want to have bank owned properties on their balance sheet. The fact is: it makes financial, legal and good PR sense for banks to close out non-performing loans this way.
Here are the benefits to the homeowner of a Successful Cooperative Short Sale with Bank of America:
* Bank of America will pay the Seller $2,500 for moving expenses.
* Bank of America will not pursue the deficiency amount – the bank waives its right to go after the seller for the deficiency.
* Bank of America will not foreclose on your home.
* Bank of America assigns a listing price – then re-assesses the price every 2 weeks, until a buyer is found.
Another good thing with the cooperative short sale is that the homeowner doesn’t have the stigma of a foreclosure on his or her record.
Eligibility requirements include asset reviews, no second liens, and require participating investors. Thinking about a short sale?
I can help you short sale your property. Send me an e-mail at scott-pearce@live.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-318-1030.
Scott Pearce Chase International South Tahoe Realty. www.SoLakeTahoeHomes.com
Article written by Chris Curry.