Bank of America ‘Secret’ Mortgage Program | New BofA HPO Short Sale Program

New Help For Homeowners & Their Mortgages

I’m totally shocked at this news. I have been waiting a long time. So long that I actually gave up and was sarcastic whenever our clients and the media mentioned Mortagage help. However, I’m now starting to believe…and maybe they are too. It only makes sense to help homeowners that owe more than their home is worth.

It hasn’t been officially announced yet, but here is as much info as I have on the Bank of America ‘Secret’ Short Sale Program | New BoA HPO Short Sale Program.

This is a new program is being quietly introduced, using only a hand-selected group of top short sale agents across the country.

Here are the details to help homeowners:

* No pre-qualifying, no hardship required. Being upside down in the house IS the hardship.

* No documentation.

* No bank statements.

* No tax returns.

* No financial worksheets.

* No deficiency judgement.

* No financial contribution from the seller of any kind will be requested.

* Only requirements? -A listing contract -A purchase contract -An appraisal, though we’ve been told the appraisal will not have an adverse bearing on the final acceptance.

* 2 WEEK approvals.

What’s the catch I asked myself when hearing about this program. The bank wants the homeowner to stay in the home and maintain it until sold. We all know that homes sell quicker and for more money when the lights are on and it’s furnished. Unlike most foreclosures. I’m amazed that someon in Bank Of America picked up on this home selling tip.

Also, the homeowner will be cleared of the remaining balance and may qualify for $3,000 cash move out expense from Bank Of America.

Hope this helps someone, please foward to a friend. There are many people that have toxic mortgages or just having a hard time financially.

Contact us for a confidential call: 310-737-8173. Ask for Kristine. 🙂

Have a great week, be proactive not reactive. Take control of your life even when you think you can’t. We can help! We can make the bank stop callling you. Thank you.

Comments

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    Is this possible?

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