Saturday, October 22, 2011

Clock Ticks On Bankster's Short Sale Incentive; Qualified Homeowners To Be Offered Up To $20K To Bail Out Of Underwater Homes

In Central Florida, the St. Petersburg Times reports:

  • The clock is ticking on homeowners who want to take advantage of Bank of America's recently announced short-sale incentive program. To collect up to $20,000, qualified sellers must get their homes listed for sale by the end of November.

  • The bank, which services 1.1 million Florida mortgages, says it is not limiting the offer to delinquent borrowers. Homeowners with good payment histories could also qualify, said Christina Beyer Toth, a Tampa-based Bank of America spokeswoman.

  • When the nation's largest lender announced the program offer last week, it didn't specify which homeowners would qualify or whether the bank wanted to only dump toxic loans it acquired from Countrywide Financial in 2008.

For more, see Clock ticking on Bank of America short sale cash offer.

See also, The Palm Beach Post: Bank of America offers up to $20,000 short sale incentive to struggling homeowners.

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