Performing a Short Sale for Active Duty Military
Active duty military customers may be eligible for protection under the Servicemembers Civil Relief Act (SCRA).
Real estate professionals should ask if a seller is in the military. This is useful for all, as knowing ahead of time will allow the customers short sale request to be directed to the Military Short Sale Team with fewer delays. When a customer advises us he/she is on active duty military service, Bank of America will refer that customer to a specialized team for assistance.
This team will determine if the customer is eligible for SCRA protection and will verify his/her military duty status. Once the review is complete, the customer will be advised of the status and the short sale request will be initiated. The short sale will be processed by the Military Short Sale Team.
Source - Bank of America Agent Resource Center