Bank of America has announced a nationwide program offering up to $30,000 in relocation assistance for short sales that are initiated by the end of this year and close by September 26, 2013. The relocation expenses are offered at closing and can range from $2,500 up to $30,000, and the amount offered is determined on a case-by-case basis, with variables such as the value of the home and amount owed factored into the equation.
“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,” said Bob Hora, home transition services executive for BofA.
According to a BofA statement, the bank has completed 200,000 short sales in the last two years and another 30,000 in the first quarter of 2012.