Bank of America Puts Short Sales Ahead of REO

short sale negotiation. Negotiation through the loss mitigation department will be the key factor in getting your new home at a deep discount. If opportunities emerge in which lenders can sell distressed properties without registering big losses, they will do it.

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Bank REO Real Estate is a resource website on Bank REO Properties and Foreclosures. Updated regularly with news and Information.. on line on Bank of America puts short sales ahead of repossession; C. Hughes on Wells Fargo REOs – Premiere Asset Services; Recent Posts.

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Housing Wire – Bank of America, one of the largest lenders in the U.S., has instituted a policy of liquidating as many assets saddled with defaulted loans as possible before repossession, said Matt Vernon, the short sale and REO executive at BofA. Vernon took the position at BofA in February.

The Dove: Keep interest rates low First, the current level of the real (inflation-adjusted) interest rate is remarkably low. The most recent annual inflation rate as measured by the rise in the consumer-price index was 2.2%.90-year-old WWII vet returns to home after eviction WWII Vet, 90, Fights to Go Home After Eviction on Stretcher; Needs $15K. to do is go home. The 90-year-old World War II veteran has lived in the same house on Humboldt Parkway in Buffalo, N.Y.

It is rare today to do a Bank of America short sale. Bank of America short sales earned well deserved black marks beginning in 2005 and lasting well into 2009. Bank of America’s reputation was so bad that some real estate agents refused to list a short sale if Bank of America was involved. Buyer’s agents refused to write offers on those listings.

The default and foreclosure parts are correct. Nearly 5 million homes have slipped into foreclosure since the onset of the crisis in 2008, according to Corelogic, which tracks the mortgage industry..

In this real estate market, there are a lot of foreclosed homes owned by banks, known as Real Estate Owned or REO properties. If a home is not purchased at the foreclosure auction, its ownership reverts to the bank, and the bank will then turn around and sell the home on the open market.

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Read more: 6 signs you should sell your home, according to experts In short, the prospect of homeownership is. My wife and.