Bank Of America, Matthew J. Vernon – Short Sale and REO (Real Estate Owned) Executive for Home Loans and Insurance Division of Bank of America announced, ”We’re going to do everything possible to liquidate property prior to foreclosure,” Vernon said. “REO will still be available, but we will do everything we can to do short sales.”
CDPE Momentum
Since the Treasury Department launched the Home Affordable Foreclosure Alternatives (HAFA) program in April to provide incentives to servicers to provide short sales and deeds-in-lieu of foreclosure, the process has become much easier but it still requires a lot of work and expertise to get accomplished.
This announcement is good news for all of us! This stradegy will help with housing values. Typically, short sales will sale closer to market value versus a foreclosure. So not more than ever it is going to be imperative to hire an experienced REALTOR that has the designation “Certified Distressed Property Expert, CDPE” and “The Short Sale Foreclosure & Resource, SFR”, with the proven skill set to negotiate with the banks, experience and education…to help any homeowner is a distressed situation…we are here to help!
Don and Kathy Vallee, CDPE,SFR with RE/MAX Excalibur Realty-Tucson, Arizona has successfully closed over 40 short sales…for more information please visit our website:
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