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Bank of America Cooperative Short Sale Agreement

Bank of America Cooperative Short Sale Agreement

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Published by: kwillson on Mar 13, 2012
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03/13/2012

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Jimmy MCLEES ________ 14 Kings Reserve Circle Simpsonville, SC 29681 Property Address: 14 Kings Reserve Circle Simpsonville, SC 29681

Dear Jimmy MCLEES and ________,

Bank of America 450 American St. Simi Valley, CA 93065

3/12/2012 Loan Number: xxx xx 7951

I am following up on our conversation on 3/12/2012. The full walk through interior appraisal we discussed has been received, and we are now ready to set the suggested list price on the property. List price for your property The suggested list price for your property is $385,000.00. Please work with your real estate agent to list your property immediately if you have not already done so. If the property is already listed, we strongly recommend that you take the suggested price into consideration to determine if an adjustment needs to be made to the current listed price. Listing your property at the suggested price helps ensure that offers that are submitted for your property have the best possible chance to be approved. For more information on the most effective way to sell your property through a short sale, please review the enclosed “Tips for Selling Your Property in a Short Sale”. Under the guidelines of the Cooperative Short Sale Program, you are required to list the property for a period of 120 days. This 120 calendar day marketing period begins 3/12/2012. Mary, a Marketing Specialist, will assist you and your realtor during the marketing period. If you have any questions, please contact Mary at 1-805-520-5423 The next steps for your real estate agent are to: 1. List the property at the above price, or if already listed, update the list price if necessary. 2. Call Mary every few weeks during the marketing period. While the property is on the market, your agent will work with Mary to determine whether the listing price needs to be adjusted due to any changes in the market environment. 3. Send us the official offer or contact us at the phone number below, once an offer is received. I am still available to help you throughout the short sale process. If you have any questions, please call me at (805) 520-5467 Monday through Friday 8am 5pm Pacific. Sincerely, Dalton Account Specialist
Bank of America, N.A.is required by law to inform you that this communication is from a debt collector. However, the purpose of this communication is to let you know about your potential eligibility for this program to help you avoid foreclosure.

Tips for Selling Your Property in a Short Sale To help you successfully complete a short sale: 1. Work with a licensed Real Estate Agent 2. Consider choosing an agent with experience in Short Sales 3. Work closely with your agent—keep them informed about any changes to the property 4. With your agent, decide on the list price, taking into consideration the suggested list price provided by Bank of America that is fair after considering the market in your area and the sale prices of comparable homes near yours 5. Keep your home and property clean, free of clutter and debris, and ready for a showing at all times 6. Ask your real estate agent for advice on how to maintain the home and/or property to show it to its best advantage 7. Contact your Short Sale Marketing Specialist every few weeks that the property is on the market to adjust the list price if necessary 8. When an offer is received, send us the official offer or contact us at 1-805-520-5423 9. Remember that a Short Sale can take longer than a traditional sale, and that your patience and cooperation are appreciated

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