Florida has become a testing ground for a new pilot program from Bank of America. This program offers extra incentive payouts to homeowners to agree to (and complete) a short sale on their homes.
Incentives range from $5,000 - $20,000 and the program is offered on a limited basis. Because Florida sees a higher percentage of foreclosures than any other part of the country, Bank of America finds it to be the perfect place for launching its "Test-and-Learn" Program. If the program is successful in Florida, it could be expanded into other states.
Florida homeowners who qualify for the program will receive a mailer from BofA or can learn more about the program from real estate agents who handle the pre-approved short sales for BofA.
To find out if you qualify for the program, you can contact a Bank of America specialist at 877-459-2852, or for more information on the current market and opportunities, visit my website!