BofA Offered Seller “Hope for America” Program – Did Not Work Out and Now Their Short Sale Is SOLD – Lovettsville, Virginia

This homeowner worked double time to save their home on Tritapoe in Lovettsville, VA from foreclosure. They tried to keep up with payments, but got behind and asked Bank of America for help. They were getting no where, so they listed as a short sale with our team. Then after we were ratified and headed to approval, BofA reached out to them with their “Hope for America” packet offering loan modification…so they withdrew their listing and we sent our apologies to the buyers. (This does happen sometimes and we’re the first to encourage our sellers to try everything they can if they want to stay in their home with refinance or loan modification, but many times it does not work out in their best interest.) That was in April 2010. Then 2 months ago, the loan modification they thought they could handle ended up being a payment they could not sustain, even with the lower price. So we re-listed their home and Bank of America has approved their short sale. The sellers bought in 2005 for $520,000 – it SOLD today for $360,000. The approval letters are below for you to see. FYI – the 2nd trust actually was approved for HAFA in the end. All deficiency rights were waived on this one by BofA! Call me at (703) 774-9572 if our team can help you or someone you know as well.