Short Sale Update
Limited Time Offer
Short Sale Relocation
Assistance Program: You could receive $2,500 to $30,000 in
relocation assistance
You want to avoid
foreclosure. I want to help. So does Bank of America! That's why Bank of America is excited to announce that for a
limited time, we are 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.
Don't miss this limited-time offer to get the help you need by
getting started with a preapproved price short sale today.
Determining your eligibility is easy:
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Contact me to initiate the short sale with Bank of America. Then
Bank of America will evaluate the homeowner for this offer quickly to
determine if they qualify for the enhanced relocation assistance.
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The
homeowner 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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Eligible homeowners
actively participating in a preapproved price short sale program (such as
HAFA or Bank of America's proprietary program) will receive a
letter if they qualify for the additional relocation assistance. The
relocation assistance will be paid at closing.
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Frequently Asked
Questions:
Q: How can I find out if
I qualify for this limited time offer?
A: Call a Team Olsewski short sale specialist
at 951-506-5744 Monday - Friday 8 a.m. - 5 p.m.; Saturday 9 a.m. - 5
p.m. PST.
Q: If a short sale is
initiated with an offer, will it qualify for this relocation
assistance?
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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. So contact us so
we can submit directly to B of A.
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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. Contact us for a full
explanation of the short sale process
Q: Can the relocation
assistance funds be used to pay off existing liens?
A: Yes, the homeowner 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 the homeowner is eligible for a $5,000 homeowner incentive, $3,000
will be from the HAFA incentive, and $2,000 will be from the homeowner
incentive. Contact us for an explanation of the HAFA program.
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.
However, as Bank of America gauges the success they may extend this incentive
to other programs.
Questions?
Call a Team Olsewski
short sale specialist (951) 506-5744 about this exciting limited-time
preapproved price short sale program offering.
Not sure whether a short sale is
right for you?
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