Will Bank of America approve a Short Sale in Los Angeles on an investment property and waive any deficiency? Yes, they do. I received a phone call from someone that found me on the internet and he turned into my client. My client had a condo that he had to rent out, unfortunately the rent was not covering the mortgage payment, homeowners association fee, property taxes, etc. Short sale was a good option before foreclosure.
What happened with the 2nd loan -which was not from Bank of America? The 2nd mortgage was with Select Portfolio Servicing or SPS. Bank of America accepted to pay $6000 to the second, SPS. SPServicing accepted the $6000. Both, Bank of America and Select Portfolio Servicing are waiving their rights to any deficiency. Another Short Sale in Los Angeles was approved.
Feel free to contact me any time if you have any questions or need help with a Short Sale in Los angeles & surrounding cities. Direct: 818-903-2040 Website: www.Short-Sale-Vs-Foreclosure-Help.com