How A Chicago Short Sale Works With Bank of America

How A Chicago Short Sale Works With Bank of America

Posted on June 26th, 2012 in All Articles.

Chicago IL – Bank of America used to be very difficult to work with when people were interested in short selling their homes. This has changed somewhat recently.

Bank of America developed a new system which makes the short sale process faster and easier.

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

The introduction of the new system, Equator, has played an important role in revolutionizing their short sale system and improving their short sale process.

The approval time for short sales has been decreased to 60-90 days in most cases. As a seller you can create an account on their website, upload the necessary documents: the short sale package, your bank statements, any authorization for third parties, and a hardship letter.

The Bank will alert you and your agent after the short sale is initiated with the Bank. At this point you are to upload financial information for the short sale. Any other lien holders are contacted as well.

Once they have received all the documents that they need, then they will begin the approval process and order an appraisal on the property to ensure the offer is in accordance with the market value of the property.

If everything looks good, then they will approve the short sale. The actual closing normally occurs within 30-45 days afterwards. Thinking about a short sale?  Please call me at 312-953-6725 or visit my Chicago short sale site at

I can help you short sale your property and get back on your feet. Send me an e-mail at 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, phillip buoscio.

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

Phone: (312) 953-6725.

View My homes for sale at Click here to learn more about Chicago Short Sales

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 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

phillip 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 phillip’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on How A Chicago Short Sale Works With Bank of America is provided as a courtesy to our viewers to help them make informed decisions.