Bank of America in $30,000 Short Sale Incentive

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

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

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

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