Short Sale Relocation Assistance Program, $5,000 to $30,000 in relocation assistance!

By
Real Estate Sales Representative with Team Olsewski

Short Sale Relocation Assistance Program:
You could receive $5,000 to $30,000 in relocation assistance 

Bank of America is excited to offer enhanced relocation assistance. Qualified homeowners who initiate a Preapproved Price Short Sale (without an offer) could be eligible to receive $5,000 - $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property, depending on the investor involved. 

Determining your eligibility is easy:

Bank of America will quickly evaluate you to determine if you qualify for the enhanced relocation assistance.

You must participate in one of the Preapproved Price Short Sale Programs, such as:

HAFA (Home Affordable Foreclosure Alternatives)
Bank of America's Cooperative Short Sale Program

Specific investor participation and eligibility criteria do apply to these programs.

If Temecula and Murrieta homeowners do not meet eligibility requirements for the enhanced relocation incentive you may still qualify to receive $2,500 - $3,000 in relocation assistance from government- and bank-sponsored programs. 

Frequently Asked Questions:

Q: How can I find out if I qualify for this limited time offer?
A: Call us at 951-506-5744 for assistance.

Q: Do I have to do anything special when initiating or completing the short sale?
A: No. But act quickly by initiating the short sale with an agent that is a short sale specialist.  This is a limited-time offer that you won't want to miss out on.

Q: If a short sale is initiated with an offer, will it qualify for this enhanced relocation assistance?
A: No. Short sales initiated at the time an offer is received do not qualify for the enhanced relocation assistance funds.

Q: Is the enhanced relocation assistance eligible to non-owner-occupied properties?
A: Yes, it is available to non-owner-occupied properties.

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 enhanced relocation assistance added to any other incentives, such as the HAFA or Bank of America Cooperative Short Sale Program incentives?
A: The incentive will be inclusive of the $3,000 HAFA incentive. For example, if Temecula and Murrieta homeowners are eligible for $5,000, then $3,000 will be from the HAFA funds and the remaining $2,000 will be from Bank of America homeowner incentive funds.









Specializing in traditional (equity) Southwest Riverside County real estate,  Southwest Riverside County Short Sales (pre-foreclosures), and foreclosures in Southern California, we can sell your home regardless of your financial needs. It's wonderful if you have equity in your home, but if not - we can still help.
We don't just try to sell your home - we MARKET your home to sell. Inventory is massive and buyers are scarce. It takes FULL TIME marketing and lead generation to keep your property up front on the internet at ALL TIMES. The MLS just does not cut it anymore. You need EXPOSURE. Nobody dominates the search engines like we do, so that means YOU DO!
Did you know that 75% of todays MLS listings entered are pre-foreclosures or foreclosures? If you need to sell, but owe more than your home is worth, you are not alone! We can help sell your home and negotiate with the bank to accept less than you owe.

Equity, or negative equity, we can help. So, if you or someone you know has thought about selling, please contact us right away to see what your Southwest Riverside County Real Estate Value is!
Call 951-506-5744 or Simply enter your information on this page and we will provide you with a speedy response. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential. There is no obligation. Please indicate when you are thinking of selling and if what YOU think your home is worth. We have a specialized team on call as well to respond to your foreclosure and short sale questions. 





* The relocation assistance payment is calculated based on the appraised value of the homeowner's property.  The total amount will be no less than $5,000, but no more than $30,000.  The payment will be delivered at the time of closing if the homeowner complies with all terms and conditions of the Short Sale Agreement, which include but are not limited to the following: a full walk-through appraisal must be completed and the homeowner must satisfy all junior liens and provide clear title for the property (the relocation assistance payment can be used to clear those liens).  The short sale must close by Sept. 26, 2013.  If the homeowner does not comply with all terms and conditions of the Short Sale Agreement, they will not receive the relocation assistance payment.  The amount of any deficiency and relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms.  We suggest that the homeowner contact the IRS or their tax preparer to determine if they have any tax liability.

Comments (1)

Brenda Swigert
Coldwell Banker West Shell - Liberty Township, OH
Great info thanks for the post.
Jul 18, 2012 03:00 PM