Bank of America foreclosed on CASH buyer

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When we wrote about Kerry Deland in the January issue, she was stuck in limbo by "foreclosure-gate" (see When Home Prices Will Head Up). Last August, Deland, of St. Cloud, Fla., finally nabbed her.

Written claims (proof of money owed under the mortgage): Lenders also.. and the purchaser of property (“mortgagor”) and defines the terms of the.. BOA foreclosed on my house and they sold it for the full balance of the.

Even if the buyer is paying cash the deposit or credit application will be required. We have had too many people make offers and then back out of the deal without even seeing the vehicle. All deposits or credit applications are between the lender and the buyer. Auto Repos Bank Owned is only a third party advertiser.

This is a step-by-step through an actual negotiation process where the author, James Kimmons, was representing a buyer dealing with a bank for a foreclosure .

Foreclosures are real estate owned, REO or bank-owned properties and they have the potential to offer an affordable option to the right buyers. Bank of America can help you learn about home foreclosures with helpful tools, resources and mortgage products that can help make the process of buying a bank foreclosure an easier one.

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Bank owned homes are still flooding our nation’s real estate market. For buyers who can handle risk, some are incredible deals. But if you’re gearing up to buy your first home, take a hard look at whether buying a foreclosed property is a good idea.. Although buying a bank owned property requires you to jump through a few extra hoops, if the price is right, the money you save will be well.

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View foreclosure listings and explore REO and bank-owned property listings from Bank of America. Foreclosed Homes for Sale – REO and Bank Owned Homes | real estate center Menu

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Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Prime Rate or the London Interbank offered rate (libor). Bank of America ARMs use LIBOR as the basis for ARM interest rate adjustments.