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Bank of America foreclosed on CASH buyer

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But what could all this mean to you as a homeowner, buyer. for all cash, you could find yourself defending your investment on your own. Financially distressed homeowner who recently received notice.

If you are house hunting, you may want to consider buying a foreclosed home, also called a real estate owned (REO) property. An REO property is owned by the lender as a result of the previous owner defaulting on the loan. This is also known as a foreclosure property or a bank-owned property.

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Ten of the biggest banks have agreed to pay $8.5bn (£5.2bn) to settle a review of home foreclosures by US regulators. Banks and mortgage lenders including Bank of America. Banks made huge profits.

It had been vacated, sealed, and winterized in June 2010, according to a notice on the wall posted by BAC Field Services Corporation, a division of Bank of America. billion buying at least 30,000.

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The former employees, who worked at Bank of America centers throughout the United States, said the bank rewarded customer service representatives who foreclosed on homes with cash bonuses and gift.

Buying a foreclosed home can score you a great deal and be a smoother process than working with a traditional owner. Before you dive in, though, here are some steps to help you navigate the process.

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. If you’re ready to shop for real estate owned properties for sale, explore the real estate owned listings from Bank of America.

Bank of America foreclosed on CASH buyer Posted on September 26th, 2010 by Christine Bank of America FAILED to stop the foreclosure proceedings in Florida court after Jason Grodensky purchased the house for CASH through a short sale and the BofA mortgage was paid by wire transfer.

A Bank of America spokeswoman, Jumana Bauwens, said the bank has done nothing wrong while repeatedly trying to help Galanida come current on his loan. It reviewed his case for two loan modifications.