Hi,
Does Bank of America settle home equities (or any 2nd loans) that are upside down with little to no equity, with out a short sale? Other large lenders settle with out short sales but BofA in the past told me they would not settle (unless through a short sale). I was wondering if anyone has knowledge if currently BofA is open to settlements on 2nd mortgages.
Any info would be greatly appreciated.
Thank you!
Steve
Tags:
I just closed a BOA short sale with a first & a second. You have to contact BOTH departments about each loan. I believe the 2nd was handled out of Greensboro, NC. I had to get their payoff amount before the 1st would even think about accepting the deal. On the HUD-1, list both payoffs in the 500 area of the first page, and show -0- in the cash from/to seller at the bottom.
I just closed a BOA short sale with a first & a second. You have to contact BOTH departments about each loan. I believe the 2nd was handled out of Greensboro, NC. I had to get their payoff amount before the 1st would even think about accepting the deal. On the HUD-1, list both payoffs in the 500 area of the first page, and show -0- in the cash from/to seller at the bottom.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.