7 Day Short Sale Approval?

I have to admit that I am not a fan of short sale investing. It takes so long it’s almost worse than getting a loan approved.

But after reading this article in the Washington Post, I  could change my mind…

Already, Bank of America, the country’s largest mortgage lender, has seen completed short sales jump 50 percent so far this year, said Dave Sunlin, a senior vice president who manages the foreclosure and real estate division. “We understand this is an opportunity to mitigate our losses, while helping turn around the housing market and help homeowners,” he said.

Bank of America opened a short-sale call center last year. And the bank hopes to launch a pilot program within 30 days that would shrink to one week the time it takes to have a specific short-sale offer approved, Sunlin said.

A short sale approval in 7 days? Now, that would be very cool. Read the whole article at the Washington Post and if you’re interested in learning how to do short sales,  the only course I recommend is Nathan and Chris’ course, Short Sales Riches.