Bank of America is revving up its Relocation Assistance
Program to qualified homeowners. Depending
on the investor involved, a homeowner could receive $5,000 to $30,000 relocation
assistance and owe no more on their mortgage, on a preapproved Price Short
Sale. A preapproved Price Short Sale is
one that is initiated without an offer.
Short sales initiated at the time an offer is received do not qualify
for this program.
A homeowner must be
qualified for a HAFA (Home Affordable Foreclosure Alternatives) Short Sale, or
the Cooperative Short Sale Program and must participate in any of the two
programs. If a homeowner does not meet
eligibility requirements for the enhanced relocation assistance, a homeowner
may still receive $ 2,500 to $ 3,000 from government and bank sponsored
relocation assistance programs. HAFA is
a government sponsored relocation assistance program while the Coop Short Sale
is Bank of America’s version of HAFA. If
a borrower does not meet HAFA eligibility, Bank of America offers the Coop
Short Sale, which mirrors the benefits accorded by HAFA.
Bank of America’s enhanced relocation assistance program is
available not only for owner occupied properties but as well as for non-owner
occupied properties. Second homes, investment homes and rentals can qualify, too.
If you want to find out your eligibility for this program contact me for a free consultation. This is a limited time offer only, and the short sale must close by September 26, 2013. Act now and act fast!
For more details, click here.
