This should not be hard at all. If Bank of America denied the homeowner's modification request, the homeowner can easily convert from modification to short sale. Since the homeowner already has a tenant in the home, this gives the tenant first right. The bank already has the homeowner(s) financial information. All they would need now, is a ratified contract offer along with the HUD to present to the bank. Once the contract is received, BOA will order the BPO to determine if the contract offer is within an acceptable range to be accepted by the bank. First you will need to have a Short Sale expert to assist and a Realtor. All of bank of america's deals are now done through their equator system. The homeowner and the assigned real estate agent will have to sign up using this system. If you need assistance. I am a Short Sale Specialist here in Maryland and I will be happy to assist with the short sale as long as the homeowner(s) have a realtor to list the property. I understand that the tenant's have 1st right of refusal, but the property still has to be listed on the MLS Listing.
America's Mortgage Loss Mitigation Service
Hi Scott, I just checked our member roster and surprisingly we have no members in Asheville. That being the case I went outside this network to locate a broker for you. Try:
Patton Property Group - Top Dozen in the Carolinas
Keller Williams Professionals
86 Asheland Avenue
Asheville, NC 28801
You probably found someone for this. However, if you need any help with short sales in the future, Steve Wilde is an attorney who handles short sales exclusively. His office is in Asheville, but he works with agents all over North Carolina. His firm has a very high success rate and are great to work with: www.wildelawfirm.com