Service Released Bank of America Mortgages and Short Sales and how that Might Affect You and your Situation

Posted on Jan 14, 2013 in Roseville and Sacramento Short Sale FAQs

Hi, I’m Mark Peek with Keller Williams, your Roseville and Sacramento short sale specialist. Today I want to talk about Bank of America being serviced released. Have you received a letter recently from Bank of America about your loan being serviced released? This means it is being transferred to another servicer. So if you are in the middle of a short sale, this could impact you quite a bit. If your loan is actually transferred to a new servicer, you may have to start your file all over again from scratch with the new servicer. A lot of times when servicing is transferred over, the documents will still go with the file but unfortunately the servicer wants to check on the previous servicer’s message over their file and make sure everything in there is up to par.

So if you have any questions about service released to either Greentree or a lot of them are being transferred over to Seterus, so if you have any questions about that and how it might affect you, feel free to give me a call. Also, if you are considering a short sale and not sure if it’s the right decision for you, I highly recommend the short sale decision calculator on our website. It will give you an idea of how long it’s going to take for you to break even. It will also help you figure out whether or not a short sale might be right for you. Again, I’m Mark Peek with Keller Williams Realty, your Roseville and Sacramento short sale specialist and I’m here to help. Thanks and we look forward to speaking with you soon.

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