If you need assistance, please call 760-794-7355

Short Sale Relocation Assistance Program

Wednesday, July 11, 2012   /   by Ken Parker

Short Sale Relocation Assistance Program

Short Sale Relocation Assistance Program:
Your clients could receive $5,000 to $30,000 in relocation assistance 

Your financially distressed clients want to avoid foreclosure. You want to help them. So do we!

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 your distressed clients the help they need by initiating a Preapproved Price Short Sale today at agent.equator.com. 

Determining your clients' eligibility is easy:

Once you initiate the short sale at agent.equator.com, we will quickly evaluate the homeowner to determine if they qualify for the enhanced relocation assistance.

The homeowner must participate in one of the Preapproved Price Short Sale Programs, such as:

  • HAFA (Home      Affordable Foreclosure Alternatives)
  • Bank of America's      Cooperative Short Sale Program

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 my client qualifies for this limited time offer?
A:
Call a Bank of America 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 at agent.equator.com.  This is a limited-time offer that your clients 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.

Ken Parker, Broker
Ken Parker
16888 Nisqualli Rd #700
Victorville, CA 92395
760-794-7355
DRE# CalBRE# 1524222

Based on information from California Regional Multiple Listing Service, Inc. as of November 5, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
This site powered by CINC: www.cincpro.com