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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.
Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix If you do not qualify for the Home Affordable Modification Program (HAMP) or other modification programs that we offer, you will be considered for other foreclosure prevention programs, such as short sale or deed in lieu of foreclosure.
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Expanding a program that began in Florida, Bank of America plans to entice more distressed homeowners across the county to sell houses in short sales by offering up to $30,000 in relocation money.
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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Bank of America offering up to $30,000 for short sales. Under the plan, Bank of America ( BAC, Fortune 500) will offer homeowners so-called relocation payments of between $2,500 and $30,000 if they sell their home in a short sale. In short sale deals, the sale price of the home is less than what the seller owes the bank.
If you have a Bank of America home equity loan or line of credit, we’ll take care of getting approvals for your short sale. If your loan or line of credit is with another lender, contact that lender and request a Second-Lien Release. The lender needs to provide this document and send it to you.
In an apparent change of heart, banks are offering $20,000 or more to troubled homeowners to avoid costly foreclosures.
That’s why Bank of America is excited to announce that for a limited time, we are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 – $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property.