This is good news, because the truth with Bank of America is that you could not get any worse. I have clients that want their Portland home to go to foreclosure, and B of A won't foreclose even though it has been two years since they made a payment. I have over 50 short sales in with B of A and on average it is taking 172 days to get a response. By that time, generally the first buyer is gone, and if you have a new buyer the process starts all over again! It just doesn't make sense.
Full story here: http://www.dsnews.com/articles/bofa-implements-equator-reotrans-platform-as-short-sales-gain-ground-2009-10-22
Monday, October 26, 2009
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