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Cash Assistance

BofA Customers Who Close on a Short Sale Are Eligible for Up to $30K

Capital Economics Report

Judicial States Will Lag Behind Recovery

Demand Institute Report

Story of Recovery Will Lack Uniformity

Freddie Mac Survey

Week After Week, Rates Continue to Break Record-Lows

BofA Offering Up to $30K in Relocation Assistance for Short Sales

Just days after Bank of America officially announced its nationwide program offering up to $30,000 in relocation assistance for short sales, a Massachusetts-based real estate company revealed in a blog that one of its clients was approved to receive $10,000. In order to be eligible for the relocation assistance, BofA stated that the short sale must be initiated by the end of this year and close by September 26, 2013. Also, the amount offered is determined on a case-by-case basis, with variables such as the value of the home and amount owed factored into the equation.

Judicial States Will Lag Behind Recovery: Capital Economics

While the housing market is starting to show signs that it is strengthening, for some states, recovery still seems to be in the very distant future. According to a report from Capital Economics, one factor that will determine the speed of recovery for individual states is the type of foreclosure procedure. Paul Diggle, author of the report, said that many of the judicial states, which are struggling to clear their backlog of foreclosures, will lag behind during recovery. However, Rob Pitingolo, research assistant with the Urban Institute, noted that it’s not the judicial process itself that is the problem, but a lack of resources.

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