Short Sale Lease Back Closes Sale with Bank Of America - Price: (Glendora, CA)

Short Sale Lease Back Closes Sale with Bank Of America - Price:

Short Sale Lease Back Program Closes First Sale With Bank of America Great news for California Distressed Homeowners Facing Foreclosure On December 12th 2012 Bank of America has approved its first of what we hope will be many transactions in THE Short Sale Lease-Back Program. This transaction is ground breaking because now it opens the door for every homeowner that has a distressed home with a Bank of America loan. Further it says to all the other banks if B of A is doing it why arent you What is the Short Sale Lease Back Program Simply it s a new program for distressed California homeowners. That allows the distressed homeowner to short sale their home and lease rent it back from the buyer for 3 years. At the end of three years the seller may have the option to then purchase back the home. Short Sale Lease Back Program Details You must work with a real estate broker who has a relationship with a qualified non-profit organization. Not all non-profits are qualified or have the resources. The non-profit will purchase the home. The seller will then rent the home back for a minimum of three years allowing their credit history and FICO scores to heal so that they can qualify for a mortgage. If everything goes as planned the former owner can repurchase the home perhaps at a giant discount. Not all homeowners qualify for the program. Borrowers must have sufficient income to afford the monthly rent payments in addition to their other debt payments. For those who do qualify the impact could be similar to a slow-motion loan modification with a principal reduction to their loan amount. Homeowners who don t qualify for this program can still proceed with a traditional short sale which may include a relocation incentive from 3 000 to as high as 45 000 depending on their lender loan amount and individual situation. Either option is better than a financially devastating foreclosure which can crush a consumer s credit hinder their ability to find a home to rent and perhaps even impact their jobs. If you would like more information about this great new program please contact Realtor E.Rick Feldman Short Sale Lease Back Certified & Short Sale Specialist 909-234-2711 CAShortSaleLeaseBack.com Realtor E. Rick Feldman DRE Lic 01702347 Team Zellmann Real EstateIMPORTANT NOTICE We are not associated with the government and our service is not approved by the government or your lender. Even if you accept this offer and use our service your lender may not agree to change your loan. If you stop paying your mortgage you could lose your home and damage your credit.