Palm Desert Short Sale Relocation Assistance Program - Receive $2500 - $30,000 in relocation assistance when you short sale.
Palm Desert homeowners who qualify for a Bank of America short sale may be eligible to receive more money back in their pockets! Bank of America just announced that for a limited time, they will be offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 - $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property. More seller short sale tips.
Determining your eligibility is easy:
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Once your Realtor initiates the short sale of your home, Bank of America will evaluate you to determine if you qualify for the enhanced relocation assistance.
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You must participate in one of the preapproved price short sale programs, such as HAFA (Home Affordable Foreclosure Alternatives) or Bank of America's proprietary program. Specific investor participation and eligibility criteria do apply to these programs.
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The relocation assistance will be paid at closing.
Frequently Asked Questions:
Q: How can I find out if I qualify for this limited time offer?
A: Call me or work with an experienced short sale Realtor and ask them about the Bank of America short sale relocation assistance program. This is a limited-time offer.
Q: If a short sale is initiated with an offer, will it qualify for this relocation assistance?
A: No. This relocation assistance is only available on preapproved price short sale programs. Short sales initiated at the time an offer is received do not qualify for the enhanced relocation assistance funds.
Q: Will the relocation assistance funds be reported on the HUD-1?
A: Yes, funds received at closing will be documented on the HUD-1, and a 1099-MISC will be issued.
Q: Can the relocation assistance funds be used to pay off existing liens?
A: Yes, you may use funds to pay off existing liens or to help with relocation expenses.
Q: Is the relocation assistance added to any other incentives, such as the HAFA or Bank of America proprietary program incentives?
A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive. For example, if you are eligible for a $5,000 homeowner incentive, $3,000 will be from the HAFA incentive, and $2,000 will be from the homeowner incentive.
Q: Is the enhanced relocation assistance available for other programs?
A: Currently, the enhanced relocation assistance is only available to short sale programs initiated without an offer.
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