|Short Sale Relocation Assistance Program:
Select Homeowners could receive $5,000 to $30,000 in relocation assistance
If you are a financially distressed homeowner who wants to avoid foreclosure. We can help!
That's why 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.
Don't miss this limited-time offer to get the help the you need by initiating a Preapproved Price Short Sale today with our perferred listing agent Rod Watson with RE/MAX Distinctive at 619-512-9120 or by e-mail firstname.lastname@example.org
Determining your eligibility is easy:
Once you initiate the short sale with our preferred agent Rod Watson or by calling 1-877-459-2852 we will quickly evaluate your loan to determine if you qualify for the enhanced relocation assistance.
The homeowner must participate in one of the Preapproved Price Short Sale Programs, such as:
Specific investor participation and eligibility criteria do apply to these programs.
Homeowners not meeting eligibility requirements for the enhanced relocation incentive may still qualify to receive $2,500 - $3,000 in relocation assistance from government- and bank-sponsored programs.
Frequently Asked Questions:
Q: How can I find out if I qualify for this limited time offer?
A: Call our Bank of America preferred agent Rod Watson at 619-512-9120 or our short sale specialist at 1.877.459.2852
Monday - Friday 8 a.m. - 10 p.m.; Saturday 9 a.m. - 5:30 p.m. Eastern.
Q: Do I have to do anything special when initiating or completing the short sale?
A: No. But act quickly by initiating the short sale with our preferred agent or short sale team. This is a limited-time offer that you won't want to miss out on.
Q: If a short sale is initiated with an offer, will it qualify for this enhanced relocation assistance?
A: No. Short sales initiated at the time an offer is received do not qualify for the enhanced relocation assistance funds.
Q: Is the enhanced relocation assistance eligible to non-owner-occupied properties?
A: Yes, it is available to non-owner-occupied properties.
Q: Will the relocation assistance funds be reported on the HUD-1?
A: Yes, funds received at closing will be documented on the HUD-1, and a 1099-MISC will be issued.
Q: Can the relocation assistance funds be used to pay off existing liens?
A: Yes, the homeowner may use funds to pay off existing liens or to help with relocation expenses.
Q: Is the enhanced relocation assistance added to any other incentives, such as the HAFA or Bank of America Cooperative Short Sale Program incentives?
A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive. For example, if the homeowner is eligible for $5,000, then $3,000 will be from the HAFA funds and the remaining $2,000 will be from Bank of America homeowner incentive funds.
Click here to read the press release.
* The relocation assistance payment is calculated based on the appraised value of the homeowner's property. The total amount will be no less than $5,000, but no more than $30,000. The payment will be delivered at the time of closing if the homeowner complies with all terms and conditions of the Short Sale Agreement, which include but are not limited to the following: a full walk-through appraisal must be completed and the homeowner must satisfy all junior liens and provide clear title for the property (the relocation assistance payment can be used to clear those liens). The short sale must close by Sept. 26, 2013. If the homeowner does not comply with all terms and conditions of the Short Sale Agreement, they will not receive the relocation assistance payment. The amount of any deficiency and relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that the homeowner contact the IRS or their tax preparer to determine if they have any tax liability.