Recent Short Sale Shows Benefits Of Cooperative Bank of America Program

Posted on Jan 6, 2013 in Roseville and Sacramento Short Sale FAQs

Hello everyone Mark Peek here with Keller Williams Realty in the Roseville and Sacramento region thank you for your time today. I work with distressed property owners every day to help find the best alternatives to foreclosure and use my blog to share valuable information. If you are currently behind on your mortgage or can no longer afford your monthly payments take a minute to browse my website or call me directly to chat with an experienced short sale agent about your options.

For my blog today I wanted to talk with Roseville and Sacramento property owners who have their mortgage through Bank of America about completing a short sale. Bank of America has recently rolled out a new program called the Cooperative Program that provides some great benefits for homeowners who qualify. In order to qualify for this program your Roseville and Sacramento property must be both serviced and owned by Bank of America. Some of the incentives involved include an expedited short sale process and relocation assistance for the borrower. In some cases Bank of America can offer additional relocation assistance and I have had clients receive up to five thousand dollars to help with moving expenses. One thing that is very different about Cooperative short sales is the home must meet a selling price set by Bank of America in order to be approved. This means the home will need to be in a condition that would allow someone to move in without any major repairs needed.

To discuss your Bank of America mortgage or to find out if you qualify please fill out a contact form on my website or call me directly. On my website you can also find our Short Or Stay Calculator that can help you determine if a short sale is right for you. Thank you for your time today and I look forward to helping you soon with any Roseville and Sacramento real estate questions.

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Information About Bank Of America’s HINIncentive Short Sale Program

Posted on Sep 7, 2012 in Roseville and Sacramento Short Sale FAQs

Hi this is Mark Peek at Keller Williams Real Estate in Roseville and Sacramento and I’m your short sale specialist for the area. I wanted to talk today about the HINIncentive short sale at Bank of America. It’s an enhanced relocation assistance program that they came out with.

How does it work? How do you apply for it and how do you know if you qualify? One of the things that you want to do is apply for the HAFA short sale program. This program works in combination with HAFA so if you are approved for a HAFA short sale and your loan is with Bank of America there may be an enhanced relocation incentive on top of the $3000 that HAFA already gives you. How much is it and how do they determine it? They don’t necessarily tell us how they determine, but I do have a few of these short sales going on right now and just had one approved. As long as you meet the HAFA guidelines, you’ll get the $3000 unless you vacate the property before the short sale is closed. The enhanced part of the incentive is based on the price of the property, the value of it and where it is located. In this particular case, the property value is around $245,000 and the homeowner is receiving about $3100 from Bank of America on the HINIncentive short sale program. That’s basically how the short sale works and is similar to the HAFA short sale.

The HINIncentive does expire in September of 2013 so if you have any questions, have a Bank of America loan and you’re considering a short sale please give me a call. We can find out some more information about whether or not you might qualify for this HINIncentive short sale program. Either way, many people are qualifying for the HAFA short sale program as long as their home is still owner occupied. Again, this is Mark Peek with Keller Williams. Click Start Here at the top of the page if you have any additional short sale questions or you can always give me a call, too.

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