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Bank of America short sale approved in just 3 weeks!

Posted by Minna Reid on Monday, January 9th, 2012 at 8:03am.

If there is a single short sale that I enjoy lately it’s a Bank of America Fannie Mae owned loan.  This is quite possibly the single most predictable servicer/investor combination and one I am more than happy to take on.  Most Bank of America short sales will go through their Equator system, including all their Fannie Mae owned loans.

Many of my clients are in the middle of a divorce leading to the unavoidable short sale of their home, as was the case here. My client was anticipating a long troublesome journey through the short sale process and was quite elated when his short sale proved to be quick and painless.

Within 5 weeks on market we secured a buyer for the home…and after submitting the package to Bank of America – a short sale approval letter with full debt forgiveness and a deficiency waiver was produced just 3 short weeks later.  Less than 5 weeks later this Vernon, CT Bank of America short sale closed.

TOTAL TIMEFRAME FROM LIST TO CLOSE: 3 MONTHS

OWED: $220,000

SETTLED IN FULL: $130,000

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Minna Reid is a full-time, full-service, Connecticut REALTOR®,  specializing in short sales, serving Hartford, Tolland, Middlesex and New Haven Counties including, but not limited to; Andover, Avon, Berlin, Bloomfield, Bolton, Cheshire, Columbia, Coventry, Cromwell, Durham, East Hartford, East Hampton, East Windsor, Ellington, Enfield, Farmington, Glastonbury, Hebron, Lebanon, Manchester, Mansfield, Marlborough, Meriden, Middlefield, Middletown, Newington, Portland, Rocky Hill, Somers, South Windsor, Southington, Stafford, Tolland, Vernon, Wallingford, West Hartford, Wethersfield and Willington.       
 
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