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Posted on September 12, 2012 at 4:07pm 0 Comments 0 Likes
BOA Cooperative Short Sale Program
The BOA Cooperative Short Sale Program can help a homeowner avoid foreclosure who does not qualify for the Home Affordable Foreclosure Alternatives (HAFA) Short Sale Program. This program, like the HAFA program, offers $2,500-30,000 in relocation assistance, waives the deficiency and streamlines the short sale approval… |
Posted on September 12, 2012 at 4:06pm 0 Comments 0 Likes
As many of you already know, Fannie Mae and Freddie Mac have existing guidelines that require a distressed borrower to be at least 31 days late on a mortgage payment before they are eligible for a Short Sale. For many home owners, this was a major disappointment since they may have dipped into their savings accounts or borrowed money from family members to stay afloat during the short sale in order to prevent further credit damage. What seemed like a responsible thing to do was banned…
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