As part of its efforts to reduce the number of foreclosures on its books, the Bank of America is offering relocation payments of up to $30,000 to struggling homeowners to induce them to agree to a short sale.
Banks Step Up Short Sale Incentives
February 13, 2012 by
Banks are stepping up their efforts to persuade struggling homeowners to accept a short sale instead of going through a costly foreclosure, according to new reports, with some banks prepared to offer borrowers up to $35,000 to ‘get out of jail’ earlier.
Mixed Response to Short Sale Cash Incentives
January 6, 2012 by
A number of real estate professionals have said that cash-back incentives designed to tempt delinquent borrowers into a short sale rather than foreclose on their homes are proving to be ineffective, because lenders aren’t clear on who can qualify for the scheme
