Florida Homeowners May Receive $5,000 to $20,000 in Relocation Assistance

Just in! Bank of America is offering Florida homeowners anywhere from 5,000 to $20,000 to short sale their homes rather than allowing them to fall into foreclosure. With this limited time offer, Bank of America hopes this will encourage distressed homeowners to communicate with them and explore the option of short sale.  An added benefit to these pre-offer programs, Home Affordable Foreclosure Alternatives (HAFA) and Bank of America Proprietary Program, is that the deficiency may be waived for the homeowner. The criteria is shown below.

Eligibility

• Homeowners with property in Florida
  
• Short sales initiated without an 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

• Ginne Mae, FHA, VA, and USDA loans are ineligible for participation
  
• Lot loans are ineligible
  
• Properties outside the state of Florida are ineligible for participation
  
• Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance

Distressed homeowners and investors with mortgages with Bank of America, this is a great opportunity to relieve yourself from that burden. To learn more about this program, please call or email me at anytime or you could speak to a Bank of America Short Sale Specialist at 877-459-2852. I look forward to helping you list your home and exploring the short sale opportunities.