The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: koan who wrote (285676)	10/21/2010 10:28:59 PM
From: Broken_Clock	Read Replies (3) of 306849

koan i was at a B of A short sale class today. The speaker was a VP. In charge of short sales for the western US. 200 agents there. BofA is really pumping the short sales now. Sending out a VP to train and galvanize the troops. It was pretty hilarious. One agent I know asked, "I just had a short sale seller refuse to sign a full price offer. he said his atty told him not to do a short sale. Why would he do that?" LMAO! The VP stuttered and said, "I don't know." Duh. The owner can live in the home payment free for 2 years...but the VP didn't want to tell anyone that. BTW, almost all short sales now are requiring promissory notes from the sellers. IOW, you lose your house, trash your credit and STILL owe money!

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