Bank of America Settlement May Result In Principal Reduction For Homeowners

Posted on Sep 18, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone my name is Mark Peek with Keller Williams Realty in Roseville and Sacramento, your short sale specialist, thank you for your time today. I have been closing short sales in the Roseville and Sacramento area for the last four years and use this blog to share valuable information with distressed property owners who may be considering a short sale. If your mortgage is underwater or if you are struggling to make your payments every month take a minute to browse my website or contact me directly to learn more about your short sale options.

For my blog today I wanted to talk with Bank of America customers about some of the opportunities that are available following the Department of Justice Settlement and how it could help you. Following this settlement Bank of America has been offering principal reductions for underwater homeowners but unfortunately they only have a certain amount of money to deal with. From what I have seen these principal reductions will not get your mortgage to fair market value and will still leave you underwater. If you are able to get a reduction through this settlement a short sale is still possible and may be the best solution given the amount of debt still owed.One of the deciding factors in this decision for a Roseville and Sacramento homeowner is how large of a reduction Bank of America will be able to offer you.

If you have any questions in regards to your Bank of America mortgage or how this settlement may affect you fill out a contact form on my website or call me today to set up a free consultation. On my website you can also find the Short Or Stay Calculator that may help you determine if a short sale is your best option. Thank you for your time today and I look forward to helping you with all of your Roseville and Sacramento real estate needs in the future.

Read More