I just received an email from Bank of America’s Short Sale Department stating that borrowers desiring to short sell their home may be eligible to receive up to $5,000 in relocation money from the Transition Assistance Program (TAP), part of the Keep Your Home California Program. For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program.
This means that eligible homeowners could receive $5,000 from TAP plus up to $3,000 from HAFA for a total of $8,000 in relocation assistance funds! While short selling a home is never a pleasant experience the possibility of getting assistance to help with the transition is definitely an unexpected plus.
For more information regarding TAP or HAFA please contact Michael Gaddis of Michael Gaddis, J.D. Realty Group at 760-692-5950 or by email at Michael@MichaelGaddis.com. Michael Gaddis is a real estate broker serving San Diego, Orange and Riverside Counties. As a licensed California attorney, a real estate broker and a NMLS licensed mortgage broker Michael Gaddis is the perfect candidate to handle any of your real estate related needs. Michael is particularly adept at handling distressed real estate issues.