Homeowners with property in Florida
Short sales initiated without an offer between September 26 and November 30
The customer will have to be eligible for one of the without offer programs such as the HAFA program or our proprietary program (specific investor participation and eligibility criteria do apply to these programs)
Successful closing of the eligible short sale by August 31, 2012
Minimum relocation assistance is $5,000 and maximum is $20,000, with the specific amount calculated based on the unpaid principal balance
Ginnie Mae, FHA, VA and USDA loans are ineligible for participation
Lot loans are ineligible for participation
Properties outside the state of Florida are ineligible for participation
Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance
BoA approved it in writing and we are getting ready to close and the seller is getting a nice amount of money given to him at closing.
Here is some information about the short sale incentive or relocation assistance program from Chase http://www.shortsalespeople.com/portfolio_2/got-a-letter-fro
And the Federal government's HAFA short sale program :
it is similar to HAFA....BUT the deficiency waiver is not GUARANTEED, like it was in HAFA!!