Bank of America expands short sale incentive to $30,000

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Bank of America says it will provide up to $30,000 in relocation assistance to delinquent borrowers who work with the bank to obtain a preapproved short-sale price before submitting purchase offers.

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The big news is Bank of America has announced its propriety Antelope Short Sale program. Under the new Antelope Short Sale program Bank of America is offering between $2500 and $30,000 to those.

We tried to short sale but after 50 days on the market Greentree offered to do a Deed in lieu based on the second mortgage releasing the lien for 10% settlement. I did not know at that time that these 80/20 Countrywide loans that went to Bank of America then Greentree and Nationstar that are sister companies were playing me the whole time.

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.

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.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. MLPF&S and Bank of America, N.A., make available investment products sponsored managed, distributed or provided by companies that are affiliates of Bank of America Corporation.

New data shows 4% drop in Puerto Rico population since Maria Nonbank mortgage lending skyrockets in Q1: report The paper argued that unemployment and future home prices declines are likely to play a bigger role in why borrowers default than high mortgage payments relative to income from the time the loans are.New data shows 4% drop in Puerto Rico population since Maria;. It’s a smaller number than what states like New York, Illinois and California all saw – more than 100,000 residents moved away.

If you are a busy short sale agent, then you probably have already heard about Bank of America’s Short Sale Relocation Assistance Program. It’s a pretty good deal for those who qualify-between $2500 and $30,000 payable to the short sale seller at closing.

 · Before the mortgage crisis of 2008-2009, buying a foreclosed home was a much more difficult proposition. real estate bargain-hunters formerly had.

The Home Affordable Foreclosure Alternatives (HAFA) program is for borrowers who, although eligible for the government Home Affordable Modification Program (HAMP), are not able to secure a permanent loan modification or cannot avoid foreclosure. HAFA provides protection and money to eligible borrowers who decide to do a Short Sale or a Deed-in-Lieu of Foreclosure.

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