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Bank Offers Homeowners Money to Sell Their Home

Times are hard for many people in America these days. The job market isn’t what it used to be and the real estate situation is definitely tough with underwater mortgages, short sales and foreclosures at every corner in every state. Bank of America is trying a different approach for helping its customers residing in Florida. It’s offering homeowners money to dispose of their homes through a short sale. Bank of America in its latest attempt to help out is offering anywhere from $5,000 to $20,000 to people who own homes in Florida who agree to sell their homes. The local Jacksonville movers learned that this Bank of America incentive was geared towards those who can’t pay their mortgage anymore. Various factors went into determining how much money each homeowner will get.

All My Sons of Jacksonville movers found out that homeowners who were willing to be part of the program didn’t actually know how much money they were going to get to sell their homes until after the sale contract has been signed. Once the sale was actually closed, that’s when the homeowner got payment. The local Jacksonville moving specialists learned that around 3,000 people agreed to take part in this Bank of America program. The Bank is thinking of taking this program in other states if it turns out to be successful. They stated in Florida, because that’s one of the hardest hit areas surrounding the real estate bust.

Other banks have also tried this type of incentive with homeowners. Wells Fargo offered payments between $10,000 and $20,000 to people who okay-ed a short sale or a deed in lieu of foreclosure. JPMorgan Chase offered short-sale incentives of up to $20,000 and Citibank averages at about $12,000.

The banks are figuring that the incentives they offer would be less than they would actually spend on foreclosures, especially in places like Florida where foreclosure proceedings end up in court. If you’re having to vacate your property due to foreclosure proceedings or short sales, contact the reputable movers of All My Sons of Jacksonville for an affordable move. Our local Jacksonville movers are professional and reliable. We’ll quilt pad wrap your delicate furniture, and help you with assembling and disassembling household items. With All My Sons of Jacksonville, you really have nothing to worry about because our moving experts are backed by four generations of professional movers and All My Sons moving offices around the country including Nashville, West Palm Beach, Maryland, Atlanta, Salt Lake City and more.