BofA offering up to $30K for short sales

NEW YORK (CNNMoney) — Bank of America is offering some struggling homeowners payments of up to $30,000 if they sell their homes in a short sale and avoid ending up in foreclosure.

Under the plan, Bank of America (BAC, Fortune 500) will offer homeowners so-called relocation payments of between $2,500 and $30,000 if they sell their home in a short sale. In short sale deals, the sale price of the home is less than what the seller owes the bank.

The bank first tested the payments in a pilot program in Florida last fall. Under that initiative, Bank of America paid up to

Bank of America

$20,000 to borrowers who sold their homes in short sales.

“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, an executive for the bank.

Chase (JPM, Fortune 500) started a similar initiative in late 2010 that pays as much as $35,000 to short sellers. Wells Fargo (WFC, Fortune 500) has also paid five-figure incentives to short sellers or to owners who turned over their deeds to the bank.

BofA said it has completed 200,000 short sales over the past two years. These sales are generally more cost effective for banks than foreclosures. By avoiding foreclosure, the lenders get distressed properties back from delinquent borrowers more quickly, which helps them to avoid property tax payments, maintenance expenses and legal fees that can build up for months, even years, as foreclosures work through the system.

Read full article from CNN Money

Think now is the time to sell?  If you or someone you care about is ready to tip the scales back toward financial solvency, contact me today and let’s get started.  I provide FREE short sale facilitation and consultation. Your lender pays the fee.  My extensive training includes that of certifications as a Certified Distressed Property Expert (CDPE), Certified HAFA Specialist, Short Sale & Foreclosure Resource Specialist (SFR), Certified Foreclosure Prevention Specialist, and a Certified Short Sale Specialists. I have been professional trained to assist you with all stages of your Stone Mountain GA short sale process.

Call me and lets talk. Wendy G Brown 770.298.4437 or email me wendy@wendybrown.net.

 

source: TheNicheReport magazine

“Quote of the Day”

“Never spend your money before you have it.”

— Thomas Jefferson

SELL SMART—Point Out All The Special Features Of Your Home

If it’s time to sell your home, think about the improvements and changes you’ve made to it over the years. It’s likely there are a number of things different from when you bought the home.

If any of the changes you undertook were for a reason deeper than “I liked how it looked,” you may have unique selling features that you will want to share with prospective buyers. You may have features in your home that a special segment of the home-buying population is in search of. Give us a call to discuss the special features of your home, and we can maximize their exposure to the right groups to get it sold.

Some attractive features you may overlook:

• Homes that were built or remodeled with 36″+ wide doorways, no steps, no-barrier showers, or an elevator, etc.would be perfect to point out for those who have specially-abled family members.
• A separate entrance on the first floor or basementwould be perfect for an office situation, in-law or nanny suite, or room-rental possibilities.
• Energy-efficient or eco-friendly elementsare sought after today — extra insulation, extra-thick walls, solar elements, rainwater collection systems, irrigation setups, non-VOC cabinets/flooring/paint, etc.
• Extra space that can be convertedto more living space is popular — attached garage attics, unfinished storage areas in the basement, extra-large bedrooms that can be divided, etc.
• An extra-wide garage or outbuilding that can serve as a workshop or studio can be a huge asset.

Spring Forward	It’s that time of year to get outside and enjoy the beauty of spring. Don’t leave your home behind if you’re ready to make a change, be it buying a new home or selling your current one, please contact us. We’d love to help you with any changes in your real estate needs.

TAKE ONE

We frequently advise clients to add flowers and plants when they’re preparing their homes for sale. To learn more home-selling secrets, read our FREE online report, TAKE ONE: How To Package Your Home To Sell. There’s no obligation–just click the link to read the report with our compliments.

Think now is the time to sell?  If you or someone you care about is ready to tip the scales back toward financial solvency, contact me today and let’s get started.  This is a FREE service.

Call me and lets talk. Wendy G Brown 770.298.4437 or email me wendy@wendybrown.net.

Quote of the Day…

Quote of the Day

You’ve got to fix the people first. Insiders and new people. Everything else flows from that. And in today’s complex world, nobody does anything successful alone – it’s all about teamwork.

— Dr. Howard Tullman

Character is like a tree,…

Character is like a tree, and reputation is like a shadow. The shadow is what we think of it; the tree is the real thing.

– Abraham Lincoln, 16th President of the United States

Inspirational Piece of the Day

WANTED: Potential Shorts Sales in #ATLANTA metro area