Bank Of America Offering Short Sale Incentives

Hello everyone, short sale specialist Kelly Cook here with the Cook & Associates Real Estate Advisors, part of The Real Brokerage here in :k1:. We can be found online at We specialize in helping homeowners throughout the :k1: area avoid foreclosure through the means of a short sale, which we are discussing here today.

Our topic today is very popular right now because Bank of America just came out with some new initiatives last week. The topic is Bank of America’s proprietary short sale program. Bank of America basically came out and said they are going to give incentives to homeowners to do a short sale by offering them anywhere from $2500 to $30,000. The $30,000 will be for a rare set of individuals, obviously, but they will be issuing monetary incentives for short sales closed to people who are underwater on their homes or late on their payments.

This program is pretty big; we have negotiated up to $30,000 before for clients with other banks. In fact, the largest one we did was with Chase bank and that was at $55,000. Bank of America has capped their incentives at $30,000, for whatever reason, but if you think you might be headed towards foreclosure or are struggling right now and not sure what to do with your mortgage and would like to do a short sale, please give us a call. You can also go to our website at and put your information in our short sale calculator. The calculator will not only tell you when you will breakeven but when your home will become an asset again. It’s a very useful tool and I encourage you to take advantage of it. You can also call us at 480.442.9868 or email us with your short sale questions at We hope this video finds you well and we look forward to helping you with your short sale needs.