Short Sale Realtor Cody Sperber Helps Clients With A Bank Of America Short Sale

Short sale Realtor Cody Sperber helps Bank Of America and former Countrywide clients avoid foreclosure with his free Bank of America short sale negotiation services.

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Short Sale Realtor Cody Sperber Helps Clients With A Bank Of America Short Sale

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http://www.codySPERBER.com

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FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 12, 2010 --Cody Sperber, Arizona's top short sale Realtor , is now focusing on helping Bank of America and former Countrywide homeowners facing foreclosure but unable to sell due to being upside down on their homes avoid foreclosure and complete a Bank of America short sale . According to Realtytrac 1 in every 129 homeowners in Arizona received a foreclosure filling in the month of January 2010. This ranked Arizona's foreclosure rate as the second highest in the country slightly behind Nevada with no relief in sight.

An Arizona short sale occurs when a homeowner needs to sell their property but owes more than the home is worth. In most cases the homeowner is behind on payments and facing foreclosure. Through expert negotiations and proper documentation an experienced short sale Realtor can work with any lien holders to approve the sale and limit any liabilities / consequences the homeowners may face. The negotiation process is paperwork intensive and typically takes 3-5 months to complete depending on the number of lenders involved, the type of financing the homeowner has, and whether or not any of the liens on the property has mortgage insurance or requires an investor approval. "I have become known as the go-to guy in Arizona for short sales because I understand how to navigate the short sale process quickly and negotiate with banks in order to get approval letters that provide debt relief. It is my fiduciary duty to protect my clients exposure and educate them on any consequences that may occur by attempting or completing a short sale here in Arizona. We are a anti-deficiency state but that doesn't mean they are automatically protected under the law and I pride myself on being able to negotiate a full release before my clients sign the final paperwork" Sperber proclaims.

When Bank of America merged with Countrywide in 2009 it became Arizona's largest subprime lender and continues to have the largest number of defaulting loans in the state. "I have more Countrywide...now Bank of America clients than with any other lender and have completed more BofA and Countrywide short sales than with any other lender. I have become very familiar with the pitfalls associated with BofA and their loss mitigation department and the frustrations they cause homeowners due to their inability to process files quickly" says Sperber. Hope is now on the horizon. Over the last 6 months Bank of America has streamlined their in-house short sale submission process by partnering with Equator Financial Solutions (formerly REOTrans.com) to create a short sale submission portal that is intended to automate the system. "Now homeowners and agents that are signed up with a free account can submit paperwork and track the Bank of America short sale process without having to nag a call center employee or guess whether or not their paperwork has been received and reviewed. This has cut down on processing time considerable and we are now starting to get results within 1-2 months instead of 4-6 months as we had before the new software submission system was introduced. Now all we need to do is hope the Bank of America loss mitigation department gets trained on using the new system so it can be used to its fullest potential" says Sperber.

About The Author

Cody Sperber is an Arizona short sale Realtor and expert in helping homeowners avoid foreclosure. Over the last five years Cody has helped hundreds of Arizona families either short sale their home or walk away from their mortgage(s) with little or no consequences to them. His team includes professional loss mitigation negotiators, transaction coordinators, short sale agents, and foreclosure attorneys. No one in the local market knows as much or has as much experience as Cody Sperber and his team when it comes to negotiating and completing a Bank of America short sale.

More information can be found online at http://www.codySPERBER.com

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