You can go to my website and learn all about a short sale vs. foreclosure!!!
Top right side on my menu bar..Http://www.madelainek.com
Thanks and have a great day!
any questions just call 310.869.1712
If the Chase/BofA did send a letter with such offer, it does not mean the homeowner will receive those money. It will take months of negotiating with them,~ so if the homeowner decided that a short sale is the only way to avoid foreclosure, it is a good idea to save that letter and call an experienced realtor.
Bank incentives are very much a motivator for defaulted homeowners on the fence regarding which is their best option. For many, the reluctance to address their default is a direct result of not having the funds to move.
The offer Bank of America and many other lenders have made to struggling borrowers has prompted them to action. For most homeowners it's become a much needed life raft to get themselves out from underneath smothering debt and back on the road to financial recovery.
I would say the marketing efforts Bank of America has undertaken since January 2013 have definitely increased the number of borrowers willing to short their home sale. I've found this to be most prominent for homes towards the top end of the conforming loan limits. In Los Angeles / Orange County that translates into homes around the $450,000 - $600,000 price range.
Allan S. Glass
ASG Real Estate Inc. Â®
149 S. Barrington Ave, Suite #660
Los Angeles . CA 90049
Direct: 213.973.8637 (213.97.FUNDS)
CA License: 01154002
Visit Allanâ€™s Blog: http://allanglass.featuredblog.com