According to a press release from Bank of America dated May 15, 2012 Bank of America has launched a nationwide program that offers delinquent mortgage customers increased assistance with relocation expenses – from $2,500 to $30,000 — at the completion of a qualifying short sale.
I have been reluctant to post this information until I saw for myself that I was able to obtain relocation assistance through this program in the amounts stated above. Now that I have successfully been able to secure payments within this range for my short sale clients I feel comfortable posting this information.
To qualify for the enhanced relocation assistance payments under the new program, the seller must work proactively with the bank to obtain a preapproved sales price prior to submitting a purchase offer to the bank. A short sale must be initiated by the end of this year and close by September 26, 2013, to be eligible for the payment.
The amount of assistance provided under the new program will be determined on a case-by-case basis using a calculation that includes the value of the home, amount owed and other considerations.
Initially, the program will be offered on mortgages that are owned and serviced by Bank of America.
For more information regarding this program please contact Michael Gaddis at 888-242-2272 or by email at email@example.com
Jenny Winford July 23rd, 2017
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