Florida Short Sales Updates and News

Mark Greene, short sale negotiator at Short Sale Operations details the current status of Bank of America's coop short sale program.  BofA has offered cash for home owners to short sell their homes in lieu of foreclosure.

Mark Greene shares some inside information from the short sale battlefield!

Update from Mark Greene of Short Sale Operations

Better read your Bank of America short sale approvals very carefully regarding deficiency judgments and 1099's.  Here's what you can expect -

We just received this information from BOA this afternoon:

 As an example of our commitment to improving the short sale process, Bank of America now allows real estate agents to submit a backup offer on a transaction if the original buyer has walked away from the sale.  This means you will no longer have to initiate a new short sale; instead, you can continue with the original transaction in Equator and still work with your same short sale specialist.  This change will save you time by not having to repeat a number of process steps.

We are currently negogiating over 100 Short Sales with Bank of America and will surely encounter this situation quite soon. We will keep you posted on how well the process goes, stay tuned!