Bank of America Puts Short Sales Ahead of REO

Buying a foreclosure typically is faster than buying a short sale, and an investor can buy a home for rock-bottom dollar. The national average of a foreclosure that needs some work may cost around $107,600, according to Re/Max. The investor could rent out the home or resell it after fixing it up.

Bloomberg.com noted back in 2012 that the Bank of america corp. topped both JPMorgan Chase & Co. and Wells Fargo & Co. when it came approving short sale transactions. Instead of focusing on foreclosures, Bank of America has been emphasizing alternative options, including deeds-in-lieu of foreclosure and short sales.

And Bank of America hadn. Fargo filed a foreclosure notice. After some wrangling, the bank told the Pyrons they would resell the house to them. But there was a catch: The bank, which had approved.

Bank of America, one of the largest lenders in the U.S., has instituted a policy of liquidating as many assets saddled with defaulted loans as possible before repossession, said Matt Vernon, the.

This number excludes revenue of $57.5 million from our Timmins Mines which are classified as assets out for sale. Our volumes.

Current homeowners who will soon go through a short-sale or foreclosure will most likely turn into renters. Cox, who owns shares of Bank of America and JP Morgan Chase & Co, is buying large banks.

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