A pilot program begun in Florida is now being taken nationwide by Bank of America. The program provides home owners with relocation assistance when they complete a Short Sale.
Amounts run from $2,500 to $30,000 depending on the situation, the value of the property, and the decision of the investor who owns the loan.
Here’s the criteria:
- Must have pre-approval for a short sale
- Must participate in either the government’s HAFA (Home Affordable Foreclosure Alternative) short sale program or B of A’s proprietary short sale program
- Process must be initiated by 2012
- Sale must be completed by September 13, 2013
Note: Short Sales already in escrow are not eligible for this program.