Will Bank of America Give you $30,000
to do a Short Sale on Your Costa Mesa Home?
Costa Mesa Short Sale FAQs
inadvertently Have you heard about BofA’s new program that offers significant relocation assistance to Short Sale Sellers?
BofA announced on May 15, 2012, that it will be offering as much as $30,000 in relocation assistance to distressed home sellers who choose to short sale their home rather than allow it to go to foreclosure.
Once a short sale has been initiated in the Equator system by your agent, BofA will evaluate your eligibility for the program.
To qualify:
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Home owner must participate in one of the pre-approved price short sale programs in which BofA participates
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HAFA – Homeowner Affordable Foreclosure Alternatives
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Bank of America Cooperative Short Sale Program
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The short sale must be initiated before the end of 2012.
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The short sale must close no later than September 26, 2013 to qualify.
The amount of the assistance by Bank of America shall be decided on a case by case basis based upon a calculation that takes into consideration the amount owed on the loan and the value of the home among other things.
To begin with, this program will be offered for loans that are both owned and serviced by Bank of America though it could branch out further later.
Bank of America is not the first big bank to offer significant relocation assistance to its distressed homeowners. Chase began a similar program 2 years ago, and Wells Fargo has also given large amounts of relocation assistance to its clients.
If you would like more information about this program and/or you need to short sale your Costa Mesa home, please give Christine Donovan at 714-319-9751 to discuss your options.