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Bank of America just released an email that should be noteworthy for anyone playing ball in short sales right now. Anyone who's a registered agent with Bank of America would have received this email on or around Dec 4, 2012.
I've pasted a screenshot of the whole email for you below.
What It Is
This comes to us via the inbox of Mogul faculty Shaun McCloskey. Shaun and his team handle a lot of short sales (and do very well) in this market, and so naturally aim to keep their finger on the pulse of what’s happening.
Basically with this email they've formalized some of their already existing policies and procedures as to what is and is not acceptable for agent commissions on certain types of short sale transactions, and also clarified certain types of structures that will result in an automatic decline of a short sale.
What This Means to Investors
Short salers: This offers you some welcome clarity on some things that can trigger your short sale deal being flat…
Shaun McCloskey
is considered to be a very successful real estate investor, author and real estate coach by world standards, but he realized that he was working far too much and was too consumed by his real estate investing business. By implementing Lifeonaire life coaching into his own personal life and business, this is now a thing of the past. He currently teaches others to do the same.