I'm in Lakeland, FL - one of the markets that got hit the worst but supposedly one of the ones for the best rebounding in the country. Our neighborhood is 30 years old or so. In the last couple of months 4 homes have sold - the one next to us was a foreclosure. It had a contract within a week - plus many others who were looking at it for investment (flipping). Since it was a Fannie Mae, the first 2 weeks were owner occupancy bids first. The first offer was accepted by the bank. The young couple closed on it within 6 weeks and are in the process of remodeling and will be moving in within the next week or so. The second home was owned by a lady who finally passed away from Cancer. Her children were here with her and sold the house without even putting a sign up. The third house was owned by an elderly man. He had to be moved closer to his children so they could take care of him. They came down to move him up there and sold the house via word of mouth that same weekend to a young couple. The fourth house is 3 doors down from me. It was a short sale. The couple closed their business here and wanted to move to a retirement community. They had bought it about6 years ago at the peak of the market and basically paid top dollar for it plus came in and did a lot of updating. They were in upside down and wanted out from under it since their business wasn't doing well. I don't know what they sold it for but it sold before the sign went up and has closed already. That was about 2 months ago. We have two more homes in our subdivision that are for sale. One is in foreclosure and got caught up in the BAC poblems. The other is also a short sale. It is a plain Jane house - no landscaping or curb appeal. Not sure what it will go for but it was also bought at the peak of the market. So I agree, things are looking up but I think more houses will be going on the foreclosure market since the issues with BAC and other banks have been resolved. The one next to us was held up almost 2years before it was listed. Once it was up for sale, people strted looking at it immediately. Alot of investers but owner occupants have a priority in some instances. Good luck.

My husband and I are getting referrals for real estate lawyers through a couple of his lawyer friends that practice in other areas. Definitely going to get legal advice before attempting SS. I agree the advice from the bank was concerning. We are not planning on buying another home for at least a couple of years. We are working on becoming debt free and want to have a substantial down payment for the next house. Also want to have freedom to live in a couple of areas closer to husband's work before deciding where to purchase. We do live in a state where they can come for the balance. Guess I was just hoping someone had been through something similar and could share some of their experience.

Xine, I'm not too concerned about BofA, although dishonesty and not playing fair doesn't sit well with me. What I am concerned about is being a pawn in someone else's game. And if there is something dishonest going on with the first contract, I would like it to be declined by the bank. The home is wayyyyyyy underpriced, suspicously underporiced.........nothing in the neighborhood has sold for less than $140,000 (not even the towhomes one street over). And this home is in far nicer condition, on a larger lot, and newer than most of the others. I am prepared to up my offer to the bank, I just want a fair shake at it. I honestly don't believe that the agent/broker ever really intended to sell it on the MLS, I think everything has possibly been pre-arranged w/ the seller, including possibly cash on the side. (the seller purchased it as an 80/20 and HAD a second mortgage, which has mysteriously disappeared...she has been in dire financial straights and there was no way she could have paid that off on her own) I think the house might just be on the MLS to put a show on for the bank. Being encouraged (by the listing agent) to put in a backup offer is not fair play if this is all just a pre-arranged investor game. As for my financial housing situation...My current house is prepped and ready for sale, I just won't put it on the market until I have another house to go to. (I have 2 large dogs and a cat and being put in the position to have to find a rental that will want my menagerie does not seem feasible) My current home has no mortgage, and the new home is to be a cash purchase...so no mortgages are involved on either side of my housing equation.

Ugh. A google search found that my experience is quite the norm. This is an excerpt from another post about their attempt to reach this company. It's so frighteningly similar to my experience I could have written it myself: ABCMortgage should be avoided at all costs. I would rather live in a box than live in a mansion that has anything to do with ABC. I donÂt anger easily and I'm a reasonable and patient person--- IÂm in customer service myself---but the customer service, or should I say "lack of customer service" at ABC is appalling. My experience on trying to call to CORRECT THEIR MISTAKE and get information on the status of my loan... ABC--hello Me---yes, i have been transferred a few times with no resolution and I would like to speak with somebody about--- ABC interrupts---your property address? Me---well, hang on... the person I just spoke with blindly transferred me to the wrong dept. as soon as I gave her my address and-- ABC interrupting again----sir, I need your address to bring up your account Me---ok, but I want to explain my situation before you transfer me...its 1234 main street any town USA and--- ABC interrupts---please hold and then IÂm transferred again. Hello (unintelligible) dept. Me---yes, I am trying to resolve a problem with my mortgage and I was transferred to---- ABC interrupts---your property address please? (repeat above) Transferred again----only this time goes into someoneÂs voice mail with the recorded message saying it might be up to 4 DAYS before I get a return call...so, I call back again....same process as above---only this time, I demand to speak with a manager...she asks me for what? I tell her that I have a problem that I cant GET RESOLVED BECAUSE I KEEP GETTING TRANSFERRED TO PEOPLE WHO DONT CARE TO LISTEN! I then sternly, not rudely, tell her I want to speak with a manager now and I dont want to kept on hold all day...this is a serious issue which needs to be resolved immediately. then---you guessed it- ABC--- hold please, click transfer, phone rings, voice mail, tone to leave message, disconnect. Believe it or not, after this hour of getting nowhere, I called back again---same process; only this time, I got transferred to someoneÂs voicemail who was on vacation!!!!! Unbelievable. What eventually happened? Nothing....oh except there lack of assistance on resolving THEIR mistake created a domino effect of financial problems that have perpetuated to the point OF RUINING MY LIFE. ABC mortgage is terrible and should not be in business...do the world a favor and go into organized crime or something, but donÂt call yourself a company...your nothing but a bunch of people who donÂt care about anything. Looks like I have my work cut out for me.....