The Bank of America Cooperative Short Sale Program may be able to help homeowners complete a short sale if they owe more on their mortgage than their house is worth and do not qualify for the Home Affordable Foreclosure Alternatives (HAFA) short sale program. This program can streamline the approval process and offers financial assistance to help homeowners with relocation and moving expenses.
As of January 15, 2013, there will no longer be a temporary foreclosure hold during the Cooperative Short Sale property marketing phase. Bank of America may begin or continue the foreclosure process up until a submitted offer to purchase the property is approved by all relevant parties. Any existing short sale will not be impacted by this change.
Homeowners, please pay close attention to all foreclosure notices. If you have questions regarding foreclosure, Short Sale negotiations, or any real estate matters, please contact our office.
