Borrowers short sale "welcome" letter from BofA for REO Trans
Attached is a Short Sale Welcome letter. BofA is still trying to convince that they take 45 - 90 days to complete a short sale.
The letter says that a BPO will be scheduled within 5 days of the letter and will take 10 days to for the final "appraisal" to be complete.
Look at the last bullit point, anticipate closing to be within 10 days of approval or at the earliest possible date. THAT IS GOOD IF IT IS CASH BUT IF THEY ARE GOING TO LIMIT THIS TIME, I WOULD NOT USE BofA for financing, they are lucky to get them done in 45 days.
The letter says that a BPO will be scheduled within 5 days of the letter and will take 10 days to for the final "appraisal" to be complete.
Look at the last bullit point, anticipate closing to be within 10 days of approval or at the earliest possible date. THAT IS GOOD IF IT IS CASH BUT IF THEY ARE GOING TO LIMIT THIS TIME, I WOULD NOT USE BofA for financing, they are lucky to get them done in 45 days.
- Attachments:
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SCAN8485_000.pdf, 228 KB
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