Bank of America Rolls Out New Program For Short Sales

NEW YORK – May 16, 2012 – Bank of America announced a new short-sale program – called enhanced relocation assistance – to help homeowners move debt free and get paid $2,500 to $30,000 for doing so. The actual cash payment depends on the appraised value of the home.

Sellers get the payment at closing. While each agreement with Bank of America is unique, the offer generally requires sellers to satisfy junior liens to provide clear title to the property; a full walk-through appraisal; and a closing that occurs on or before Sept. 26, 2012. The program only applies to pre-approved short sales, not sales that start with an offer; and eligible homeowners must actively participate in a short sale program, such as HAFA or Bank of America’s proprietary program.

Bank of America says Realtors can determine a client’s eligibility quickly through its lending website, agent.equator.com, or by calling a short-sale specialist at (866) 880-1232.

Sellers already working on a short sale through Bank of America are also eligible if they meet the requirements. The bank says it will contact them by letter if they qualify.

© 2012 Florida Realtors®

About BNDestin Real Estate Agent  Bonnie Hall

Bonnie Hall is a local real estate agent serving Destin, Florida and the surrounding area. As an Associate Broker with Your Paradise Group, Bonnie specializes in finding clients that perfect waterfront home, dockage and/or marina home property. Bonnie Hall has been selling real estate since 2003. Whether you are looking to purchase a new home or sell existing home, the time to act is now. Contact BNDestin at 850-240-9901 or email Bonnie Hall @ Bonnie@bndestin.com for an expert evaluation or to review available listings.

Reprinted with permission. Florida Realtors®. All rights reserved.

Email Newsletter

Join Our Monthly "Beach to Bay Buzz" Newsletter Today!

Speak Your Mind

*

Operated by a subsidiary of NRT LLC.