Considering Florida Short Sale? Bank of America Offering Huge Bonus to Sellers

Reblogger Kay Van Kampen
Real Estate Broker/Owner with RE/MAX Broker, RE/MAX 1999033519

Several banks are now offering rebates to the sellers if they short sale their home.  Wendy just wrote that Bank of America is encouraging sellers to start the process before they get an offer. 

Original content by Wendy Rulnick

Bank of America short sale
Have you been sitting on the fence about selling your Destin or Santa Rosa Beach Florida property as a short sale?  Now may be the time to act.  Bank of America has just announced that Florida sellers may be able to receive $5000 to $20,000 cash incentive at closing for completing a short sale.  There are existing Bank of America programs that pay sellers $1500 to $3000, but this move is unprecedented.  To qualify, you'll need to initiate your short sale prior to getting a contract on your Destin or Santa Rosa Beach home.

Apparently, Bank of America is enhancing its offerings to exceed federal HAFA guidelines, which currently suggest a $3000 relocation incentive to the short sale seller, and its own Co-op Program, which pays less.  They are only offering the incentive to eligible Florida sellers before they get a contract at this time, but hint at future program changes
 
Some loans don't qualify for the program - VA Compromise Sales, Ginnie Mae, FHA and USDA, lot loans and others. If you own a property in Destin, Sandestin, Santa Rosa Beach or surrounding towns, have a Bank of America mortgage and need to short sale, the time may be now. So get a Destin short sale agent on your side, and maybe get some cash. The deadline is November 30. 

Florida Enhanced Short Sale Relo Assistance

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. 

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Rainer
455,913
April Swenson
Coldwell Banker Ocean Shores Brokers - Ocean Shores, WA
CRS and Managing Broker - Ocean Shores Real Estate

Thank you for your post.  I am working on a Short Sale in Washington with BofA as the lender, so I will check with BofA to see if they have a similar program for Washington.

Oct 04, 2011 02:19 PM #1
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Thanks Kay.  I have to follow up and see if Mass qualifies.

Oct 04, 2011 11:50 PM #2
Rainmaker
526,217
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Kay, Thank you for the re-blog!  I think they are trying to get brownie points since they have not rated well with the Treasury Dept for their HAFA processing.

Oct 05, 2011 08:32 AM #3
Ambassador
637,113
Larry Lawfer
YourStories Realty Group powered by Castles Unlimited® - Newton, MA
"I listen for a living." It's all about you.

Although I have a HAFA certification, I really don't do a lot of this work here in Boston.  I have found that the servicer I am dealing with is dodging us with some hidden agenda.  It is easy to dislike the banks these days.

Oct 06, 2011 03:09 AM #4
Rainer
355,890
Nina Rogoff
RE/MAX Executive Realty - Medfield, MA
Sells Real Estate!

Well, this may help BofA's reputation considerably. Great post from Wendy. Thanks for re-blogging!

Oct 08, 2011 07:12 PM #5
Rainmaker
4,432,317
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for reblogging. I will check to see if they have incentives in my area.

Oct 11, 2011 12:34 AM #6
Rainmaker
909,289
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Thanks everyone for the comments.  I haven't seen Bank of America offering these incentives in Missouri yet.

Oct 11, 2011 03:11 PM #7
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Rainmaker
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Kay Van Kampen

Realtor®, Springfield Mo Real Estate
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