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Bank of America Enhanced Relocation Assistance Program

Bank of America continues to release exciting news regarding short sales! For a limited time only Bank of America is offering eligible homeowners $2,500 to $30,000 in relocation assistance. This is a huge help for distressed homeowners seeking to avoid a foreclosure.

“Bank of America is committed to providing alternatives to foreclosure whenever possible,” said Bob Hora, home transition services executive for Bank of America. “This program can help customers make a planned transition from ownership when home retention options have been exhausted or they have made a decision not to keep the home.”

The Bank of America Relocation Assistance program is designed to help homeowners avoid foreclosure by initiating a short sale through Equator without an offer. There are a few other points of eligibility that are required for a homeowner to receive this assistance. Here is what is needed:

  • Once the short sale is initiated in the Equator system, Bank of America will evaluate the homeowner for the relocation assistance program, and determine if they are eligible.
  • The homeowner must participate in one of the short sale programs offered by Bank of America. For example, they must participate in the Home Affordable Foreclosure Alternative (HAFA Program) or B of A’s proprietary program. (Note:  that these programs each have their own eligibility criteria set forth by specific lenders).

If you already have a short sale initiated with an active preapproved price, fear not. Bank of America associates are already reviewing current short sales, that fall under this category and determining which homeowners are eligible for the Relocation Assistance Program. Homeowners will receive a letter from Bank of America if they are eligible. (So watch your mailboxes)!

Have questions about the Bank of America Relocation Assistance Program? No problem, the team here at Short Sale Experts Inc, is well versed with this enhancement program, as well as other Bank of America short sale procedures. We are here to make your short sale transaction quick and easy. Call us now! 888-597-2040

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