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Bank of America

Bank of America

Through the relationship PCS has developed with Bank of America, PCS may be able to assist homeowners in qualifying for a pre-approved short sale. The following programs may be available to homeowners with Bank of America loans:

1. The PCS Agent Initiated Program enables agents to request a short sale prior to listing a property or finding a buyer [if the property has already been listed]. Our services are not paid by the agents involved in the transaction, therefore, agents will keep 100% of their commission. Under this program, homeowners may qualify for assistance of $2,500-$30,000 to help with relocation and moving expenses. The program may not require financial documents from the homeowner in order to determine qualification for this program, so please contact us to determine eligibility prior to initiation in Equator.

2. The PCS Homeowner Initiated Program enables homeowners to request a short sale prior to finding an agent. On average, homeowners that qualify under this program are provided a relocation fee up to $3,500. Our services are not paid by the homeowners, therefore, homeowners will be provided assistance without having to pay for our services. Homeowners must contact us prior to having an agent list their property in order to qualify for this program. The program may not require financial documents, so please contact us for detailed eligibility requirements and information.

3. The Pre-approved Federal Housing Administration (FHA) program may allow homeowners to participate in an FHA Short Sale as an alternative to foreclosure. FHA requires a financial analysis to determine eligibility for a short sale prior, as the program goes through a “waterfall” process to determine whether or not the homeowner may qualify for a modification. PCS may provide assistance to the homeowner in completing the necessary forms to assist FHA in the determination of a short sale. Please contact us for further information.

The following forms will be requested in order to proceed with a short sale with Bank of America:

Third Party Authorization Form

Buyer's Acknowledgement and Disclosure Form

Short Sale Purchase Contract Addendum & Real Estate Licensee Certification Form

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