Special offer

Bank of America new Short Sale program May 2012


In 2011, Florida was chosen as a Test State to try an alternative to foreclosure program by Bank of America.  The program has been expanded.. It works... (I have closed with many clients, that leave the closing table with a check..)   

Bank of America has launched a nationwide program that offers delinquent mortgage customers increased assistance with relocation expenses – between $2,500 and $30,000 - at the completion of a qualifying short sale.


“Bank of America is committed to providing alternatives to foreclosure whenever possible,” said Bob Hora, home transition services executive for Bank of America. “This program can help customers make a planned transition from ownership when home retention options have been exhausted or they have made a decision not to keep the home.”


The short sale relocation assistance program builds on the bank’s already robust short sale initiatives, which led to 200,000 completed short sales in the last two years and another 30,000 in the first quarter of 2012. This program is based on a similar incentive offer that Bank of America tested in Florida last year.


To qualify for the enhanced relocation assistance payments under the new program, the seller must work proactively with the bank to obtain a preapproved sales price prior to submitting a purchase offer to the bank. A short sale must be initiated by the end of this year and close by September 26, 2013, to be eligible for the payment. Qualifying short sales that have already been started but have not closed may be eligible for the relocation assistance.

Although you’ll be transitioning out of your house, that does not necessarily mean going through foreclosure. Other solutions are available that may help you avoid eviction from—and the sale or auction of—the house that can occur during foreclosure. We can help you explore your options, as well as provide resources to help guide you through the transition.

There are some significant advantages to contacting us before you begin a short sale. We'll work with you and Bank of America to determine an appropriate selling price and start pursuing any necessary approvals.



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Areas in Central Florida that I work in assisting homeowners.  

Altamonte Springs, Deltona, Debary, Deland, Orange City, Sanford, Sorrento, Lake Mary, Heathrow, Longwood, Winter Springs, Orlando, Oviedo, Winter Park, Celebration & Windermere

Direct Cell: (386) 801-0878 OR Office: (407) 333-4400
Email me Today:
LauraForty@Remax.net or LauraForty@gmail.com

 Laura Forty-Garcia, REALTOR®,

RE/MAX Central Realty

Direct Cell: (386) 801-0878 OR Office: (407) 333-4400


Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County
Big announcement in the B of A world today; great idea to share it on AR.
May 15, 2012 01:22 PM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

It is kind of humorous in a painful way that I occasionally see "new" BoA Short Sale programs being introduced... but rarely if ever see anything about whether or not they are working well afterwards.

May 15, 2012 01:25 PM