Bank of America Short Sale Approved!

We got another short sale approved!  The lender for the first trust was bank of america.  There was actually a second and a third trust on this home as well, and that was with TD Bank. 

Bank of America has definitely improved their short sale process with implementing the Equator system.  This short sale took about 6 months.  Part of the reason why it took so long was because there were three trusts and the equator system was implemented in the middle of the negotiations. 

We teamed up with the National Real Estate Law Group on this one, and they did a great job! 

Hardship: Family grew and they could no longer afford their home and needed a bigger house

Total Owed: $313,000

Approved Sales Price: $150,000

Amount to 2nd and 3rd trust: $3,000

Here is an example of the Bank of America approval letter: