BofA completes more short sales than REO for last 18 months

Can I short sale my investment property?" Some people think that the short sale option is limited only to a personal residence. They probably assume this because there is a lot of hoopla from certain types of lenders over whether a person occupies the home or does not occupy the home, but that has little to do with most short sales.

How buying a short sale/foreclosed home differs. Buying a home in short sale or foreclosure is similar to buying a traditional home, but there are differences: Sales can take months to complete. Foreclosures tend to be a little faster than short sales, but in both cases, the lender has to approve the sale.

Decline in home prices to continue to 2011: Clear Capital Truckee, California-based Clear Capital released a second-half forecast for 2011 that predicts home prices will fall by another 2.4 percent, after dropping by 3.2 percent in the first half. The forecast, released on July 8, is based on the company’s Home Data Index[TM] (HDI) Market Report.

Meanwhile, since the burst of the housing bubble, there have been about five million home foreclosures, with millions more underway. bankers do not concur. Bank of America CEO Brian Moynihan told.

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BofA completes more short sales than REO for last 18 months NEW YORK ( – Short sales are the hottest thing going in the distressed-property market, and the trend is expected to get even hotter in coming weeks, when the government starts handing.

How long does a Bank of america short sale approval take? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

A short sale is a lender managed sale in which you sell the property for less than what you owe on the mortgage, so you can’t make any money off a short sale. On the other hand, if you can sell the house for more than what you owe, it’s not a short sale and you keep the money you make after paying off the loan.

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Typically it takes four to six months or more to work through the process, which feels more like eons in markets where prices are leaping upward every month. "And if there’s more than one. a market. Lenders are pursuing more short sales as alternatives to foreclosure -and sometimes paying borrowers to do them. BofA developing foreclosure rental programs to deal with distressed properties « HousingWire. Freddie could take more than a decade to unload REO.