May
23

New Bank Of America Short Sale Program, Owners Paid Up To $30,000 And 20 Day Closing!

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Bank of America is expanding a program that began in Florida, Bank of America plans to entice more distressed homeowners across the county to sell houses in short sales by offering up to $30,000 in relocation money.


“Bank of America is committed to providing alternatives to foreclosure whenever possible,” Bob Hora, home transition services executive for Bank of America, said in the press release. “This program can help customers make a planned transition from ownership when home retention options have been exhausted or they have made a decision not to keep the home.”


The bank tested the program in the fall in Florida, where more than 11,000 homeowners agreed to participate.

Here are the details:
1) Borrowers will be paid between $2,500 to $30,000 for ‘moving expenses’ when a short sale is finalized.

2) The relocation money will be based on the home’s value and mortgage amount.

3) To be eligible, the short sale must be initiated by the end of this year and close by Sept. 26, 2013.

4) NO Deficiency Judgments!

4) Last month Bank of America announced plans to approve some short sales in less than 20 days.

5) The news comes one week after Bank of America announced it was reaching out to underwater homeowners who could be eligible for principal reductions.

6) Some short sales that have already started but have not yet closed may also be eligible for relocation assistance.

7) The program is currently only available to borrowers with mortgages owned and serviced by Bank of America.

8.) For more information about the government’s foreclosure settlement, go to NationalMortgageSettlement.com. If you’re a homeowner and have questions about whether you qualify for a loan modification or refinancing under the Home Affordable Refinance Program (also known as HARP 2.0), contact the Homeowner’s HOPE hotline at 1-888-995-HOPE or go to MakingHomeAffordable.gov.

Related posts:

  1. Breaking News: Bank Of America PAYS Owners $20,000 To Short Sale!
  2. David Rozansky Completes Prestigious ASD to Specialize in Real Estate Short Sales
  3. $17 Million Aid for San Diego County
  4. Los Angeles Short Sale Expert Dave Rozansky Shares the Risks of Vacant Foreclosures
  5. Debt Collectors and Lenders Settling for less

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