Bank of America announced today that they are going to be cutting principal balances for homeowners. The homeowner must be 60 days behind and 120%+ underwater.
Posts Tagged ‘Pre-foreclosure’
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Seller Beware, 12 Common Short Sale Mistakes:#9 Thinking That the Problem Will “Fix Itself” or Just Go Away
February 8th, 2010 
admin For this problem to go away, you must take charge. You must be proactive if you really want it to go away! It CAN be taken care of, there is hope, there is life after this market, but doing nothing will only make the problem worse and increase your potential for future problems.
Seller Beware, 12 Common Short Sale Mistakes: #8 Inexperienced Realtor
February 6th, 2010 admin One of the biggest decisions you make is the decision to purchase a home. Knowing that you are going to lose your home is devastating, second only to the decision to short sale. Facing off with an unfamiliar process in which it seems everyone is out to get you can be overwhelming. Having a Realtor who you can confide in and trust is extremely important.
Seller Beware, 12 Common Short Sale Mistakes: #6 Choosing the Wrong Buyer
January 31st, 2010 admin Sometimes the numbers don’t even matter. Often times when a short sale is marketed properly there are an influx of good offers. While numbers are important, let’s be honest, financing can only go so high.
Seller Beware, 12 Common Short Sale Mistakes: #5 Incorrect or Incomplete Information to the Seller
January 26th, 2010 admin Often a seller is not fully briefed on the expectations and process of a Sacramento Short Sale. There are items within the sale of the home that must be maintained throughout the selling process.
Seller Beware, 12 Common Short Sale Mistakes: #2-Negotiating Poorly
January 20th, 2010 admin The short sale process is an art; it requires full awareness and knowledge of the file’s characteristics, (i.e. details of hardship, income and current financial standings) Regular and open communication with the bank is imperative to complete the sale.
