Bank of America has rolled out a new program called their “Bank of America Co-Op Short Sale”, in which homeowners that successfully complete the program receive anywhere from $3000-$30,000 upon closing. This is great news for ANY homeowner that is underwater on their home value and whose servicer is Bank of America.
In addition to the homeowner receiving the cash incentive, some of the highlights of this program are:
-Both Owner-Occupied AND Investment Property/Non-Owner Occupied homes qualify
-Both loans under $29,000 AND Jumbo loans (Loans above $729,000) can qualify
-Short Sale request can be initiated BEFORE an offer on the property is received
-A pre-approved Listing Price is given to the seller so no time is wasted on offers that won’t be accepted by the lender
If you would like to get a jump start and see if you qualify for these cash incentives, Schedule a Consultation with us today so we can get you started.
Edwene Gaines-Prosperity and Your Home- Rebecca and guest Edwene Gaines- author of the book, “The 4 Spiritual Laws of Prosperity” discuss ways to empower yourself to move from unfortunate circumstances in your life, to a positive way of thinking and way of life. Edwene Gaines is a Leading Prosperity Teacher and has a lot to information to share with listeners to contribute to your spiritual growth–you do not want to miss this segment!
Radio Show: Home Help Radio
Date: 10/19/12
Bank of America Offers “Loan Forgiveness” on 2nd Mortgages
As part of Bank of America’s deal in the national mortgage settlement, the bank has begun offering full loan forgiveness on some of it’s 2nd liens. What this means for selected homeowner’s with a Bank of America 2nd loan or Home Equity Loan, is that these selected homeowners will be receiving letters from Bank of America advising them that the bank has fully wiped out their 2nd lien, and no money is owed to the bank on the lien.
Some of the qualifications are that the homeowners must have a 2nd lien that is owned AND serviced by Bank of America, and they also must meet certain property value and delinquency criteria set by the bank.
At New Team Realty, we have already witnessed 2 borrowers receive such letters, as well as proof by recorded documents on title that the 2nd lien has then been removed, so the evidence that this program is not just an urban legend is substantiated.
Bank of America is also offering some great incentive programs on their 1st lien/mortgages as well, in which we have seen customers receive between $3000-$20,000 in cash incentives for relocation purposes, once the short sale is finalized. This program also has specific criteria and guidelines for qualification.
If you have a Bank of America 1st or 2nd mortgage and would like more to see if you may qualify for these incentive and loan forgiveness programs, Schedule A Consultation today so we can talk to you about your options.
Improving Buyer’s Purchasing Ability: Rebecca and guest Walter Maloney- spokesman for the National Association of Realtors (N.A.R) discuss factors that need to be improved upon in order to increase buyers’ purchasing ability. These factors include: Lender’s loosening their current lending guidelines, current trends in home prices, and low inventory.
Radio Show: Home Help Radio
Date: 10/13/12
Real Estate Market Update-Improving the Economy Through Real Estate: Rebecca discusses one of the key factors in any economy–which is Real Estate, and how this is perhaps one of the most important components in improving our current economy.
Radio Show: Home Help Radio
Date: 10/13/12
Solutions to Help the Real Estate Market Make a Comback: Rebecca Austin and Marty Schneider discuss solutions that are needed to help spark a real estate comback.
Radio Show: Word On Wealth
Date: 10/11/12
Real Estate Market Update: As we, as a nation go into the next Presidential Election, Rebecca Austin and Marty Schneider discuss what the most important things are that we need to be focused on in Real Estate, as well as what needs to be done to label this real estate downturn as “done”.
Radio Show: Word On Wealth
Date: 10/11/12
San Diego Real Estate Market Update: Rebecca discusses San Diego’s increase in property values and home sales and how we are entering back into a “Seller’s Market”.
Radio Show: Home Help Radio 9/15/12
If you are a homeowner whose house value is underwater and you want to know how you can get out from under this debt, or you just want to know what your options are to avoid foreclosure, this segment is for you. Rebecca discusses the short sale option in depth, bringing clarity to the process.
Radio Show: Word on Wealth 8/23/12
Rebecca discusses how a strategic short sale can benefit homeowner’s that are underwater, as well as the option of loan modifications.
Radio Show: Home Help Radio 7/28/12
