If you know someone who is considering a short sale, and they have their loan with Chase or Bank of America, there’s good news. Both banks have launched a national program that pays significant cash incentives to encourage sellers to do a short sale and avoid foreclosure.
Bank of America is excited to offer enhanced relocation assistance. qualified homeowners who initiate a Preapproved Price Short Sale (without an offer) could be eligible to receive $5,000 – $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property, depending on the investor involved.
Here is an email we just recieved from Bank of America. For short sales with Bank of America in the state of Florida, they are now offering up to $20,000 for sellers to participate in a short sale in many cases. With this program, Florida home owners can get cash back for a short sale with Bank of America!
We suggest that you contact the IRS or your tax preparer to determine if you have any tax liability. In order to receive the relocation assistance, the sale of the property must close by the closing date in the short sale agreement. Bank of America reserves the right to change or alter the relocation assistance at any time.
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If you are a busy short sale agent, then you probably have already heard about Bank of America’s Short Sale Relocation Assistance Program. It’s a pretty good deal for those who qualify-between $2500 and $30,000 payable to the short sale seller at closing.
Bank of America (BAC) is taking its small Florida pilot short-sale incentive program national. Under the program, which was tested in the Sunshine State last year, B of A will offer to pay delinquent mortgage customers up to $30,000 to help with relocation expenses after completing a qualified short sale.
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Part two was our January 29th episode breaking down universal banks, Bank of America (NYSE. rid of the aggressive sales targets, and they’re trying to figure out how to generate really strong.
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