Bank of America Wants Homeowners To Avoid Foreclosure

Home Foreclosure Notice from The CourtAre you a Lake Mary homeowner in financial distress?

Do you have a mortgage with Bank of America?

Bank of America is encouraging distressed homeowners to explore a short sale as a viable option for avoiding foreclosure.  As an additional incentive, for a limited time homeowners can receive relocation assistance* by contacting them prior to receiving a contract on their home and this program includes a possible waiver of the deficiency.

*Florida homeowners may receive $5,000 to $20,000 in relocation assistance!

Who’s eligible for this opportunity?

  • Homeowners with property in Florida
  • Short sales initiated without an offer between September 26 and November 30
  • The customer will have to be eligible for one of the without offer programs such as the HAFA program or our proprietary program (specific investor participation and eligibility criteria do apply to these programs)
  • Successful closing of the eligible short sale by August 31, 2012
  • Minimum relocation assistance is $5,000 and maximum is $20,000, with the specific amount calculated based on the unpaid principal balance

Exclusions:

  • Ginnie Mae, FHA, VA and USDA loans are ineligible for participation
  • Lot loans are ineligible for participation
  • Properties outside the state of Florida are ineligible for participation
  • Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance

For more information about selling your Lake Mary or Seminole County home via a short sale and applying for the Bank of America assistance program, please contact Lake Mary REALTOR, Debbie Summers @ 407-758-1020.

One thought on “Bank of America Wants Homeowners To Avoid Foreclosure

  1. Careful before you re-modify or refinance. Have a quaified attorney look over your loan papers to INSURE the paperwork you have is in order, complete and legitimate. The entire robo-signing halt brought by most state AG’s was brought about because so many origination loan files were incomplete and it was cheaper to ‘forge’ names and push the paperwork through the courts. As usual, lenders were NOT held accountable. If and when you re-modify or re-finance you re-contract into a whole new loan, only this time with the i’s dotted and t’s crossed. Don’t sign away a legitmate loophole that you could use to negotiate a better deal.

    http://www.palmbeachpost.com/money/foreclosures/60-minutes-to-re-air-show-featuring-palm-1698955.html?sort=asc&page=3&more_comments=true

Leave a Reply

Your email address will not be published. Required fields are marked *