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

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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.

If you know someone who is considering a short sale, and they have their loan with Chase or Bank of America, there’s good news. Both banks have launched a national program that pays significant cash incentives to encourage sellers to do a short sale and avoid foreclosure.

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The major lenders who settled a lawsuit, including Bank of America, Chase, and Wells Fargo are offering some homeowners up to $30,000 for short selling in certain situations. Other lenders offer different benefits. All costs associated with performing the short sale are paid by your lender.

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Bank of America, the country’s biggest bank. An additional 38,000 owners disposed of their homes in short sales, where the lender agreed to accept less than it was owed. A person briefed on the new.

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