Clients could receive $5,000 to $30,000 in relocation assistanceÂ
If you are financially distressed, of course you want to avoid foreclosure. bank of America and myself are here to help!
Bank of America is now offering 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 mortgageÂ with the sale of their property, depending on the investor involved.Â
Let's not miss this LIMITED-TIME OFFER to get you the help you need by initiating a Preapproved Price Short Sale today!
Determining your eligibility is easy:
Once I initiate your short sale, BofA will quickly evaluate you to determine if you qualify for the enhanced relocation assistance.
You must participate in one of the Preapproved Price Short Sale Programs, such as:
Specific investor participation and eligibility criteria do apply to these programs.
If you do not meet the eligibility requirements for the enhanced relocation
incentive, you may still qualify to receive $2,500 - $3,000 in relocation
assistance from government- and bank-sponsored programs.Â
Frequently Asked Questions:
Q: How can I find out if I qualify for this limited time offer?
A: Call a me, Kieran Jackson, your BofA short sale specialist, and NAR certified Short Sale Foreclosure Resource at 1.213.632.8484
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. Your agent, Kieran, will act quickly by initiating the short sale atÂ Equator.com.Â And remember, this is a limited-time offer that you won't want to miss out on.
Q: If my 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. So let's not wait. Let's get your short sale process started TODAY!
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.
Is the enhanced relocation assistance added to any other incentives,
such as the HAFA or Bank of America Cooperative Short Sale Program
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 hereÂ to read the press release.
The relocation assistance payment is calculated based on the
appraised value of the homeowner's property. Â The total amount will be
no less than $5,000, but no more than $30,000. Â 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).Â The short sale must close by Sept. 26,
2013.Â If the homeowner does not comply with all terms and
conditions of the Short Sale Agreement, they will not receive the
relocation assistance payment.Â The amount of any deficiency and
relocation assistance will be reported to the Internal Revenue Service
(IRS) on the appropriate 1099 Form or Forms. Â We suggest that the
homeowner contact the IRS or their tax preparer to determine if they
have any tax liability.