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Short Sales Just Got Easier in San Diego County! 

...If you have 1st and 2nd loans with Bank Of America.  It is common to have 1st and 2nd with Bank of America, as Countrywide home loans was extremely active in San Diego.  And since Countrywide was acquired by BOA - many San Diegan's have BOA loans. 

Here is the press release:

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Changes to 2^nd Lien Deficiency Waiver Guidelines

Bank of America has extended additional support to homeowners by agreeing to enhanced 2^nd lien deficiency waiver guidelines.

Basic qualifications:

• The short sale must be initiated on or after June 1, 2012.
• The 2^nd lien must be attached to a 1^st lien mortgage owned by Bank of America.

If you determine that the homeowner qualifies for this waiver, contact your short sale specialist to establish the amount to request for the 2^nd lien.

This waiver enhancement, based on the Department of Justice settlement, went into effect on June 1.

Important reminders:

• Use Equator messaging as your primary way to communicate with your short sale specialist.
• Contact Short Sale Customer Care at 1.866.880.1232 for status updates and answers to immediate questions.