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Bank of America Short Sale update - re: Backup Offers

Bank of America Short Sale update - re: Backup Offers

Bank of America has shorten up the time we have to submit a backup offer.

See the email notice I received today below....

8-Day Window to Submit Backup Offer

Based on agent feedback and to reduce overall cycle times, we are making a change to the short sale process. If it becomes necessary to submit a backup offer during a short sale, you now have a reduced window for making the submission. Instead of 14 days, backup offers must now be submitted within eight calendar days after the initial offer becomes invalid.

Here is their link to more details on this short sale change.

Posted Tuesday Jan 10