The Bank of America Cooperative Short Sale Program may be able to help you complete a short sale if you owe more on your mortgage than your Temecula, Murrieta, Menifee or Hemet home 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. We 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.
As a homeowner you need to pay close attention to foreclosure notices.To learn more about the program view the quick reference guide on the Agent Resource Center. This is another reason that if other options you a trying are not working in helping you avoid foreclosure DO NOT WAIT TO THE LAST MINUTE to try and do a short sale.
For questions about active Cooperative Short Sales, please contact me at 951-506-5744 or send me an email.
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