Bank of America expands short sale incentive to $30,000

Bank of America (BAC) is taking its small Florida pilot short-sale incentive program national. Under the program, which was tested in the Sunshine State last year, B of A will offer to pay delinquent mortgage customers up to $30,000 to help with relocation expenses after completing a qualified short sale.

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Bank of America Short Sales. Borrowers that qualify for the program may be eligible to receive between $2500 and $30,000 in cash when the short sale closes. The assistance offered by Bank of America is decided on each individual case. However, the determination process takes into account the amount owed, the home’s value and various other factors.

Bank of America Short Sale Incentive Programs. By selling your home in a Bank of America HAFA Short Sale, as opposed to the traditional short sale process, you will benefit in several ways: $3,000 to $30,000 for relocation assistance Foreclosure process may be temporarily halted You will receive a full deficiency waiver on.

Some lenders such as JPMorgan Chase, Wells Fargo, and Bank of America are now offering sellers cash incentives of up to $30,000 to complete short sales, and the US government has extended the Mortgage Forgiveness Debt Relief Act and Debt Cancellation through the end of 2012. If your home is underwater and you have made the decision to let it go.

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