DFW Real Estate Investments: Bank of America Looking to Decrease Amount of Short Sale Transactions as of 1/15/2013

For homeowners considering a short sale with Bank of America, this is extremely important to take note of. The summary of this announcement is that Bank of America is going to continue through the foreclosure process if a homeowner files for a short sale until all parties have a contractual agreement to perform a short sale. While that may not be difficult for a buyer and a seller to agree upon, the approval of the assigned "short sale specialist" representing BofA can and will take 3-9 months to sign an approval.  Read more...  http://dfwinvestmenthomenews.blogspot.com/2013/01/bank-of-america-looking-to-decrease.html?m=1