Chicago Short Sales: How To Do a Bank of America Cooperative Short Sale

Chicago Short Sales: How To Do a Bank of America Cooperative Short Sale

Posted on February 3rd, 2012 in All Articles.


Chicago IL – You can hire a real estate agent if you want to, but it’s not a necessary step to get preapproved for the short sale. I help my sellers get preapproved but not every short sale agent offers this type of service because we don’t get paid to do it

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is how the program is approached:

1. Write a hardship letter.

2. Send the hardship letter to the bank and ask the bank to do a Cooperative Short Sale.

3. Follow up with Bank of America weekly to make sure your Cooperative Short Sale is being processed.

The bank might request other documents. But, in most cases it will not. The program is streamlined. This means the bank will run a credit report.

If your FICO score is very low and your credit report is terrible, then Bank of America probably will not ask for supporting documents. It will simply approve your Cooperative Short Sale.

The process can take anywhere from 30 days to 3 month. By working with Bank of America on a Cooperative Short Sales, you can sell your home without the negative aspects of a foreclosure.

It truly is a situation where everyone’s best interest: yours, the buyers, and the banks, can be mutually considered. Thinking about a short sale? Visit www.ShortSaleSuperMan.com for more information and 100’s of articles explaining the Chicago short sale and foreclosure process.

I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Chicago Short Sales: How To Do a Bank of America Cooperative Short Sale is provided as a courtesy to our viewers to help them make informed decisions.