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Posted in their Short Sale Process Overview section of their website, Bank of America lists minimal short sale process requirements.  Like many other lenders, Bank of America advises borrowers to contact their workout center AFTER becoming delinquent and to exhaust all other options prior to considering a short sale.  Bank of America posts:

“Please Note: The borrower must have a current or eminent financial hardship and the loan must be delinquent.”

For more information on their requirements or to view the entire message in its entirety, visit their site at https://homeloanbusiness.bankofamerica.com/ShortSaleInformation.aspx.

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