Loan Modification Forum - LoanSafe.org - View Single Post - Bank of America

diamondpointe · 11-17-2008, 05:45 PM

Bongocheeta or anyone have any updated info on BoA?

I have a short sale agreement and just got the same letter. What has been the member's experience withe the recovery department at BoA after closing.

I will have a huge defiency of more than 300k (short sale price of 650, net 620 to BoA), loan is for 935.

I cannot hope to pay back more than 10% of that as cash and cannot afford an installment plan as the economy has cost me 2/3 of my income.

Does anyone have any thoughts on whether a short sale with BoA's rules is better or worse than letting it go to foreclosure or deed in lieu?

Thanks!

11-17-2008, 05:45 PM	#6 (permalink)
diamondpointe Junior Member Join Date: Nov 2008 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Bank of America - Short sale with collectible Debt Bongocheeta or anyone have any updated info on BoA? I have a short sale agreement and just got the same letter. What has been the member's experience withe the recovery department at BoA after closing. I will have a huge defiency of more than 300k (short sale price of 650, net 620 to BoA), loan is for 935. I cannot hope to pay back more than 10% of that as cash and cannot afford an installment plan as the economy has cost me 2/3 of my income. Does anyone have any thoughts on whether a short sale with BoA's rules is better or worse than letting it go to foreclosure or deed in lieu? Thanks!