ICON Real Estate Solutions, Inc.

Is your home loan with Bank of America?

Considering a Short Sale?

If your home is now worth less than you owe on the loan and you have not qualified for home loan assistance that would enable you to keep your home, a short sale is one way to settle your mortgage debt. In a short sale, with your lender's approval, you may sell your home for less than the total amount that you owe.

There are tax, credit and other implications to think about when considering a short sale.

If you want to talk to a specialist about starting the short sale process,

Call Bank of America today at 1.866.880.1232

8am-9pm EST Mon-Fri.

If you've already received your login information from a short sale specialist, click here to login into their system.

Bank of America Home Loans improves short sale process for homeowners and real estate professionals

As part of Bank of America Home Loans’ commitment to successful homeownership, our first priority is to keep owners in their homes through loan modifications or other remedies. Unfortunately, sometimes these solutions do not work and a “short sale” is deemed to be the best course for the homeowner. A short sale allows a borrower to sell the home for less than the total amount due on the mortgage loan secured by the home. It helps the borrower avoid foreclosure and reduces some of the lender’s loss by avoiding or minimizing foreclosure activities. The borrower does not receive any of the proceeds of the short sale.

High unemployment levels, declining home values and other factors facing some families have doubled short sales in the last year. The result: the slowing of an already time-consuming and intensive process in which participation from multiple parties is typically required. read more

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