With Bank of America halting foreclosure sales in several states nationwide, Tallahassee home owners may wonder how this will affect them. Most importantly, BofA is halting foreclosure sales... this does not mean they will halt foreclosure processes for delinquent mortgages. For mortgages not being paid, it looks like BofA will continue the foreclosure process, but not go forth with the final step - the sale - until it has resolved all administrative issues called into question.
If you are underwater on your Tallahassee home, and behind on your mortgage, you must still find a way to resolve the issue - mortgage modification, short sale, deed in lieu. If not, you may find that BofA one day resolves its legal issues, with your home rapidly heading for a foreclosure sale before you have time to do anything. Don't wait to act. If we can be of assistance, please call us at 850.445.2476
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