Lakeland FL Short Sale – Bank of America HAFA and Florida Incentive Success
Last year when Bank of America announced the Florida Incentive program giving homeowners up to $20,000 who successfully close on or before August 31, 2012. I was a skeptical of how exactly would it work out for the Lakeland FL homeowners. It turned out that not all of the homeowners who thought would get such an incentive got it, there were some who did not qualify, however these homeowners successfully closed with a waiver of deficiencies.
I am happy to report that a short sale finally closed and sellers finally walked away free and clear with a little cash to get on with their lives. Bank of America HAFA short sale which included a Florida Incentive payment for a successfully closed transaction on April 27, 2012 on a single family home in Lakeland FL.
The home has 3 bedrooms/2baths with about 1,689 living square feet. It was purchased in December 2007 for $169,500.
It was sold for $118,500. A decline in market value of 30% within 5 years.
Liens:
1st mortgage balance of $156,000 with Bank of America
Hardship:
Curtailment of Income
I was contacted in October and shortly thereafter receiving all pertinent documents I marketed the property for $129,000 online in November. All required documents including HAFA application were sent through Equator for Bank of America and received an approval in February.
Seller received full waiver of deficiency as well as HAFA and Florida Incentive pay totaling $7,800, buyer received 3% closing cost assistance on USDA loan and closing took place on April 27, 2012 - It took 171 days from listing to closing.
Don’t be foreclosed! Do your research when selecting a Lakeland FL short sale agent to work with. I have experience closing Lakeland FL short sales on both sides of the transaction as a listing agent and buyer’s agent I bring you comprehensive insight and understanding throughout the short sale process.
Do you need to sell your home as a short sale in Lakeland, Auburndale, Bartow, Winter Haven, Polk City, Highland City, Mulberry, Bartow, Kathleen, or Lake Alfred? Call or email me for a personal and confidential consultation.
This article was originally posted on www.lakelandfl-shortsaleagent.com
I hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact Petra Norris - REALTOR(R) at 863-619-6918. If you’re new to Lakeland, I’d especially like to extend a warm welcome. I value my clients and provide them with honest, reliable service. Allow me to introduce you to the Lakeland FL real estate landscape and all it has to offer.
Copyright© 2012 By Petra Norris *Lakeland FL Short Sale – Bank of America HAFA and Florida Incentive Success*
Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
