if our house forecloses
What does BOA do to the owner if there are no offers on a home and it eventually forecloses?
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Permalink Reply by Wendy Rulnick on
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Esther - You will have to move out of your house if it forecloses. As for future collections (deficiency), that depends on your state. You should be listed for sale with a Realtor who is aggressively marketing your property. Let Bank of America know you are trying to do a short sale. They may have a special program to help you (HAFA, Coop, Florida Relo), depending on your loan type.
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