BANK OF AMERICA SOLD SHORT SALE - 12323 Tuscola St, Moreno Valley, California 92557

BANK OF AMERICA SOLD SHORT SALE

12323 Tuscola St, Moreno Valley, California 92557

This 4-bedroom, 2 bath, pool/spa home, with attached pergola, wrought iron fencing, enclosed sun room, tiled flooring, updated kitchen, is located in quiet neighborhood in Moreno Valley, north of 60 freeway. This was a Bank of America short sale, one loan, and took 9 months from start to finish.

MLS# T11049179 - Purchase price $134,000, seller's lender paid buyer's closing costs of $4,000. One loan, one lender, Bank of America.

This is proof short sales do close. As this was a non-owner occupy and second home, Sellers did not qualify for HAFA short sale, and so they did not receive relocation fees. They did have their outstanding mortgage debt forgiven.

The home was listed in April 2011, and we received a viable, all cash purchase offer from Investor #1. After four months we received short sale written approval from Bank of America. Investor #1 backed out within 3 days of receiving written approval.

Back to the beginning--I call all the other agents on offers I had received, as this home is located in a desirable area of Moreno Valley. Bingo, in comes Investor #2. We re-submit new offer, and within two weeks we have written short sale approval from Bank of America for Investor #2. Investor #2, like Investor #1, backed out within 3 days of receiving written approval. Grrr. (Okay, Investor buyers out there, you're giving yourselves a bad reputation.)

Now we must re-market home on the MLS. Very shortly, I receive a couple of offers. One stands out from the rest. It is from a first-time home buyer, owner occupy, FHA loan. Buyer's agent indicates her buyer is serious and wants this home! Can I say bingo yet?

We re-submit purchase offer for Buyer #3, and within two weeks we have Bank of America written short sale approval!

Bank of America will approve a second, or third buyer within two weeks. We experienced that first-hand. My short sale sellers were happy. We open escrow and tenants move out. We are five days from closing escrow and my short sale sellers, short on money, were up against getting the home broom clean. They came up with a genius idea.

Now I can say "Bingo"--we closed on January 17, 2012.

If you have a Bank of America mortgage loan and would like to know how a short can help you avoid foreclosure, please contact me direct 951.491.4063 for a free consultation at no-obligation. There is no cost to the homeowner for my short sale real estate services.

My goal is to help as many homeowners as I can avoid foreclosure through short sale option. Better to call me sooner, than later. There is life after short sale.