Bank of America, the nations’ largest mortgage servicer has just announced a new program that offers up to $20,000 to Florida homeowners who short sale their homes. While the program has several requirements, it could be a saving grace for homeowners who are behind on their mortgage payments yet want to avoid foreclosure.
To be eligible for the program homeowners must:
- Submit a purchase agreement from a buyer to Bank of America by November 30, 2011 and close the transaction before August 31, 2012.
- The home must have a Bank of America first mortgage.
- There cannot be a previous or existing offer on the home.
For further information, homeowners are advised to contact Bank of America at 877-459-2852.