Short Sale: Bank of America provides assistance to borrowers facing foreclosure through their website, or in person by attending a foreclosure prevention workshop. You can even get a customized checklist online by answering a few questions. Completing a Bank of America short sale requires a lot of time, and you should expect to provide updated documents throughout the short sale. Be sure to find an agent that will have time to double check the paperwork and provide them to Bank of America in a timely manner.
Timeline: The average short sale is completed between 4 to 6 months depending on your type of loan.
A short sale is an option to avoid foreclosure but you must start as soon as possible. Even if you received a foreclosure notice, there may still be time for Bank of America to review your loan and postpone the foreclosure sale.
Loan Assistance Website: https://homeloanhelp.bankofamerica.com/en/index.html
Find a Foreclosure Prevention Workshop: https://homeloanhelp.bankofamerica.com/EventRegistration/en/events.jspx
Personalized Document Checklist: https://homeloanhelp.bankofamerica.com/en/document-checklist.html