October 7th, 2011 5:50 PM by Radha Berry
Bank of America is currently offering a 20K incentive for distressed homeowners to short sale their home instead of being foreclosed on. This move will allow homeowners to avoid a lengthily foreclosure process, reduce the damage to their credit, and receive up to 20K in relocation monies to start over. Other banks are also implementing similar short sale incentive programs. This is a great time to "Put Your Problems in Your Past!"
Under the HAFA program a homeowner may also have their entire deficiency judgment waived and avoid future litigation to collect these monies. Homeowners who walk away from their homes tend to destroy their homes, take appliances and other items that are costing the banks thousands in unnecessary repairs, and litigation. The twenty thousand dollars incentive program allows the bank to avoid a lengthy litigation process and sell the home at or below market value to another buyer without taking possession of the home, and generally in better condition than a foreclosed home or abandoned property would be in.
This program is a being offered for a limited time to encourage distressed homeowners to choose the short sale option over the foreclosure option. For more information on the Bank of America 20K short sale incentive you may contact The Good Pirates’ short sale specialist Realtor Radha Anne Berry at 561-312-7777 or 1-800-579-9677, or email at Radha@thegoodpirates.com.