Bank Of America
Extended until December 12 2011, Must Call Now
Bank of America is currently sending out letters to homeowners with pre-approved short sale offers.
Alternative Right Party Contact
Enhanced Short Sale Relocation Assistance for Florida Homeowners
For the last few months, RE/MAX and Bank of America have been cooperating in an Alternative Right
Party Contact program across the United States. ARPCis designed to allow agents a unique way to
reach out to delinquent homeowners and inform them on foreclosure alternatives like Short Sales.
Now, in an effort to motivate homeowners in Florida to consider a Short Sale, Bank of America is
offering enhanced relocation assistance for a limited time. Eligible Florida homeowners may now
qualify to receive a cash incentive of $5,000 to $20,000 and have any deficiency waived.
Eligibility:
~ Homeowners in the State of Florida
~Short Sales initiated without-a- offer between September 26 and November 30
~Be eligible for one of the proprietary Bank of America Short Sale programs or HAFA
~Cash incentives based on a percentage of the unpaid loan balance ($5,000 to $20,000)
~FHA, Ginnie Mae, USDA and VA loans are NOT eligible
Frequently Asked Questions:
Q: How can I find out if my client qualifies for this relocation assistance?
A: Call a Bank of America Short Sale specialist at 1-877-459-2852
Q: Are there different procedures for initiating or completing these Short Sales?
A: No, as long as the homeowner meets the eligibility requirement shown above.
Q: Will the relocation assistance funds be reported on the HUD-1?
A: Yes, they 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, if the investor approves it.
Q: Is the relocation assistance in addition to other incentives from the Bank, HAFA or others?
A: No, cash incentives under this program would be in place of other incentives.
Q: Is the enhanced relocation assistance available for other programs?
A: Currently, these incentives are only available to Short Sales initiated without-on-offer.
Resources:
Homeowners and agents may call 1-877-459-2852 to speak to a Bank of America Short Sale specialist
Agents are encouraged to visit the Agent Resource Center at bankofamerica.com/realestateagent
And to the agent networking and resource site www.theshortsaleguide.com
ARPC details are If you have received one of these offers they are for real and can get you out of your home.
Make sure you immediately contact a Realtor and listing your home as one of the requirements is that you submit a listing agreement back to them with your signed offer.
Visit our Short Sale Realtors Section to find a local Short Sale Realtor near you
If you have any question, please feel free to contact us