• Call/Text: (813) 784-7744
    • Send Me an Email

The Tampa Real Estate InsiderThe Tampa Real Estate Insider

South Tampa Realtor

  • Menu
  • Home
  • Meet Rae
  • Search
    • Advanced Search
    • Map Search
    • Listing ID Search
    • Address Search
    • Browse by City
    • My Account
  • Buyers
    • Buying With Me
    • Featured Properties
    • Mortgage Calculator
    • My Listing Manager
  • Sellers
    • Selling With Me
    • Sold Portfolio
    • FREE Home Valuation
  • Communities
    • Channelside District
    • Downtown Tampa
    • South Tampa
    • Seminole Heights | Tampa Heights
    • Gulf Beach Area | St. Petersburg | Clearwater
    • Westshore Marina District
    • Downtown St. Pete
    • Cheval Golf Community
  • TREI Blog
  • Get in Touch
  • Rave Reviews

BOA Deadline For Short Sale Incentive Approaching Soon-Tampa, Fl

Here’s the latest update on Bank of America’s short sale incentive program.  Thanks to Mark Puente with the St. Pete Times, we now have more clarification on how the program works, deadlines, payout amounts and qualification process.

The biggest disappointment is that homes already under contract are not eligible for the cash assistance.

When do I have to list my home for sale?

  • Between Sept. 26 and Nov. 30.
  • The deal must close by Aug. 31, 2012.   

Can homeowners with good payment histories qualify if their loans are under water?

Yes. Bank of America selected Florida for the test-and-learn program to determine whether the additional incentive increases the use of short sales instead of other more expensive, and perhaps less dignified, transitions like foreclosure. If it works in Florida, the bank might roll it out in other parts of the country.

How much money will I get?

Qualified homeowners will get 5 percent of the unpaid balance as of August 2011, with a minimum payout of $5,000, Bank of America says. For instance, a homeowner who owes $100,000 as of August would get $5,000 (5 percent of $100,000). A homeowner who owes $200,000 would get $10,000. And so on up to a maximum of $20,000. The sales price does not impact the payout.                                                                                                                                                                                                                                 If you need additional information on this offer, please call 727-344-9815 or email a short sale expert Realtor at Prudential Tropical Realty.  

You may also want to read the Bank of America article, Bank of America Offers Homeowners up to 20K Incentive To Sell As A Short Sale-Tampa, Fl, released earlier in the week for additional details to the program. 

Posted in: Real Estate News & Info, Selling Home as Short Sale, Short Sale Realtors, Short Sales Tampa Tagged: Bank of America Short Sale, How to sell as short sale, Short Sale Realtors Tampa

Post navigation

« Bank of America Offers Homeowners up to 20K Incentive To Sell As A Short Sale-Tampa, Fl
What Everybody Ought to Know About The Tampa Real Estate Market »

Search Our Blog

Search for:

Browse by Category

Browse by Topic

Best Neighborhoods in Tampa Best Places to buy a home buyers market tips Buying a Home buying real estate in tampa Channelside Condos For Sale Choosing the Right Realtor Condo Market News Condo Market Update Tampa current housing market in tampa florida Downtown Tampa Condos and Lofts Downtown Tampa Updates Financing and Mortgage News First Time Home Buyers First Time Home Buyer Tax Credit First Time Home Buying Advice Foreclosure Statistics Tampa FL Historical Neighborhoods-Tampa homestead tax exemption How to sell as short sale investing in condos Investing In Real Estate Luxury Home Communities new construction tampa property tax update Real Estate Investing Tampa real estate market tampa real estate news Relocating to Tampa sales statistics Selling Your Home Short Sale Process Tampa Short Sale Realtors Tampa South Tampa Real Estate Tampa Housing Market Tampa Real Estate Tampa Real Estate Market Tampa Real Estate News Tampa Realtors Tampa Relocation Guide Things to Do in Tampa Tips for Listing your home Tips for Sellers Top tampa realtors When is a good time to buy?

Explore Communities

  • Channelside District
  • Downtown Tampa
  • South Tampa
  • Seminole Heights | Tampa Heights
  • Gulf Beach Area | St. Petersburg | Clearwater
  • Westshore Marina District
  • Downtown St. Pete
  • Cheval Golf Community

Recent Posts

  • Why Use a Buyer’s Real Estate Agent Instead of a Listing Agent? Tampa, Fl
    Why Use a Buyer’s Real Estate Agent Instead of a Listing Agent? Tampa, Fl
    7 hours ago
  • Tampa Florida Extended Weather Forecast
    Tampa Florida Extended Weather Forecast
    1 day ago
  • Local Cultural and Social Events in Tampa
    Local Cultural and Social Events in Tampa
    1 day ago
  • Top 10 Downtown Tampa Condominiums for Sale
    Top 10 Downtown Tampa Condominiums for Sale
    1 day ago

Rae Anna Conforti

  • Call or Text Me

    (813) 784-7744

  • Send Me an Email

    Ready to Help

  • 1001 S. MacDill Ave

    Tampa, FL 33629

© 2021 Tampa Real Estate Insider | All Rights Reserved

Agent Reputation – Real Estate Website Design

Privacy Policy | DMCA | Sitemap