Finally some good news courtesy of Clear Capital, a California-based real estate research company.
Broward and Miami-Dade counties rank among the nation’s
highest-performing major markets when it comes to home prices over the
past quarter and year. The two counties saw a 2.1 percent
increase in prices quarter over quarter and a 5.4 percent jump year over
year.
Broward and Miami-Dade ranked 11th on a list of the top 15 markets!
Dec 1, 2011
The Florida Short Sale Relocation Assistance Program has been extended!
The Florida Enhanced Short Sale Relocation Assistance Program has been extended to Dec. 12, 2011.
This program offers Homeowners needing to sell via short sale relocation assistance between $5,000 and $20,000.
Eligibility:
-Homeowners with property in Florida
-Short sales initiated without an offer between Sept. 26 and Dec. 12, 2011
-The customer will have to be eligible for one of the without an offer programs, such as the Home Affordable Foreclosure Alternatives (HAFA) program or Bank of America's proprietary program (specific investor participation and eligibility criteria do apply to these programs)
Successful closing of the eligible short sale by Aug. 31, 2012
Exclusions:
-Ginnie Mae, FHA, VA and USDA loans are ineligible for participation
-Lot loans are ineligible for participation
-Properties outside Florida are not eligible for participation
-Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance
Frequently Asked Questions:
Do I have to do anything different to initiate or complete the short sale?
No. If the homeowner's short sale is initiated between Sept. 26 and Dec. 12, 2011, and the property closes by Aug. 31, 2012, the homeowner will be eligible.
Will the relocation assistance funds be reported on the HUD-1?
Yes, they will be documented on the HUD-1, and a 1099-MISC will be issued.
Can the relocation assistance funds be used to pay off existing liens?
Yes, if the investor approves it.
Will this enhanced relocation assistance waive the homeowner's deficiency?
An additional benefit for these pre-offer programs, such as HAFA and Bank of America's proprietary program, is that deficiency may be waived for homeowners who qualify.
Is the relocation assistance added to any other incentives, such as HAFA or Bank of America proprietary program incentives?
No. A homeowner will receive the $5,000 to $20,000 in place of the typical incentive paid out by these programs. The relocation assistance is essentially an enhancement to the standard payout offered on these programs.
Is the enhanced relocation assistance available for other programs?
The enhanced relocation assistance is currently available only to short sale programs initiated without an offer. However, as we gauge the success, we may extend this incentive to other programs.
Questions?
Contact my office at 954-441-5366 or call BoA directly at 1.877.459.2852
This program offers Homeowners needing to sell via short sale relocation assistance between $5,000 and $20,000.
Eligibility:
-Homeowners with property in Florida
-Short sales initiated without an offer between Sept. 26 and Dec. 12, 2011
-The customer will have to be eligible for one of the without an offer programs, such as the Home Affordable Foreclosure Alternatives (HAFA) program or Bank of America's proprietary program (specific investor participation and eligibility criteria do apply to these programs)
Successful closing of the eligible short sale by Aug. 31, 2012
Exclusions:
-Ginnie Mae, FHA, VA and USDA loans are ineligible for participation
-Lot loans are ineligible for participation
-Properties outside Florida are not eligible for participation
-Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance
Frequently Asked Questions:
Do I have to do anything different to initiate or complete the short sale?
No. If the homeowner's short sale is initiated between Sept. 26 and Dec. 12, 2011, and the property closes by Aug. 31, 2012, the homeowner will be eligible.
Will the relocation assistance funds be reported on the HUD-1?
Yes, they will be documented on the HUD-1, and a 1099-MISC will be issued.
Can the relocation assistance funds be used to pay off existing liens?
Yes, if the investor approves it.
Will this enhanced relocation assistance waive the homeowner's deficiency?
An additional benefit for these pre-offer programs, such as HAFA and Bank of America's proprietary program, is that deficiency may be waived for homeowners who qualify.
Is the relocation assistance added to any other incentives, such as HAFA or Bank of America proprietary program incentives?
No. A homeowner will receive the $5,000 to $20,000 in place of the typical incentive paid out by these programs. The relocation assistance is essentially an enhancement to the standard payout offered on these programs.
Is the enhanced relocation assistance available for other programs?
The enhanced relocation assistance is currently available only to short sale programs initiated without an offer. However, as we gauge the success, we may extend this incentive to other programs.
Questions?
Contact my office at 954-441-5366 or call BoA directly at 1.877.459.2852
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