SEARCH

FOR BUYERS

FOR SELLERS

AUCTIONS

MORTGAGES

REALTORS

OTHER INFO

Breaking News: New Bank of America ‘Enhanced Short Sale Relocation Assistance’ program PAYS owners to short sale…starting in Florida.

Florida Homeowners:
Florida Enhanced Short Sale Relocation Assistance Florida homeowners may receive $5,000 to $20,000 in relocation assistance.

Bank of America encourages distressed homeowners to explore a short sale as a viable option for avoiding foreclosure. To that end, for a limited time BOA is offering enhanced relocation assistance to help motivate homeowners to engage with BOA on a pre-offer short sale. An additional benefit for these pre-offer programs – such as the Home Affordable Foreclosure Alternatives (HAFA) and Bank of America’s proprietary program – is that deficiency may be waived for the homeowner.

Eligibility:
Homeowners with property in Florida;

Short sales initiated without an existing offer between September 26 and November 30, 2011;

The customer will have to be eligible for one of the without offer programs such as the HAFA program or our proprietary program (specific investor participation and eligibility criteria do apply to these programs);

Successful closing of the eligible short sale by August 31, 2012;

Minimum relocation assistance is $5,000 and maximum is $20,000, with the specific amount calculated based on the unpaid principal balance.


Exclusions:
Ginnie Mae, FHA, VA and USDA loans are ineligible for participation;
Lot loans are ineligible for participation;

Properties outside the state of Florida are ineligible for participation;

Short sales initiated already with an offer are not currently eligible for the enhanced relocation assistance.