Considering a short sale with a Bank of America Mortgage?
Bank of America has been one of the nation's largest mortgage lenders for decades and handled thousands of short sales during the last housing market downturn. As a result, the bank has well-established short sale procedures, although the exact process depends on the type of loan you have.
Bank of America services and owns a wide variety of mortgage products, including FHA, VA, Fannie Mae, Freddie Mac, and portfolio loans. Each loan type has its own eligibility requirements, documentation standards, approval process, and investor guidelines. Understanding which type of loan you have is an important first step, as it can affect everything from required paperwork to approval timelines and potential relocation assistance.
Will you qualify for a short sale? Find out now!
What to expect from your short sale with Bank of America:
Short Sale Timelines with Bank of America
While I generally tell my sellers they can expect 4-5 months from he day they list their short sale home to the day they close on it, this usually includes about a 1-3 month period for the short sale approval process. Bank of America used the Equator platform, which tends to improve short sale processing efficiency.
Short Sale Documentation Requirements
Unless you qualify for a streamline short sale, you will need to gather all required documents to be able to submit your short sale. Your Short Sale Realtor will generally do this for you.
FREE SHORT SALE SURVIVAL GUIDE!
A STEP BY STEP MANUAL FOR GETTING THROUGH THE SHORT SALE PROCESS!
Bank of America Short Sale Review
Overall, a pretty run of the mill experience. As short sale volume increases, many lenders may have some delays as they increase their loss mitigation departments.
RESPONSIVENESS
speed
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Reid Real Estate Group has been specializing in helping sellers short sell in CT and FL since 2008! We've helped hundreds of homeowners move on from their over-mortgaged homes and on with their lives debt free, and we can help you!
Minna is, without a doubt, the VERY BEST OF THE BEST!! She is extremely knowledgeable, responsive, and efficient; there aren't enough superlative adjectives to describe how Excellent she is at her job! I have another house that I am selling and I wouldn't even think about hiring another Realtor/Broker - why would I, there is NO ONE better than Minna and her team !
J.S.
Last Updated on July 5, 2026 by Minna Reid
