Under the plan, Bank of America (BAC, Fortune 500) will offer homeowners so-called relocation payments of between $2,500 and $30,000 if they sell their home in a short sale.

The bank first tested the payments in a pilot program in Florida last fall. Under that initiative, Bank of America paid up to $20,000 to borrowers who sold their homes in short sales.

“This program can help customers make a planned transition from ownership when home retention options have been exhausted or they have made a decision not to keep the home,” said Bob Hora, an executive for the bank.

Chase (JPM, Fortune 500) started a similar initiative in late 2010 that pays as much as $35,000 to short sellers. Wells Fargo (WFC, Fortune 500) has also paid five-figure incentives to short sellers or to owners who turned over their deeds to the bank.

BofA said it has completed 200,000 short sales over the past two years. These sales are generally more cost effective for banks than foreclosures. By avoiding foreclosure, the lenders get distressed properties back from delinquent borrowers more quickly, which helps them to avoid property tax payments, maintenance expenses and legal fees that can build up for months, even years, as foreclosures work through the system.

In addition, the incentives help guarantee the homes will return to the lenders in better condition. Foreclosed properties are often poorly maintained, even sometimes sabotaged, by angry former owners, making them worth far less to the banks.

To qualify for Bank of America’s relocation payments, borrowers must obtain pre-approval on sale prices for their homes. The sale must begin by the end of 2012 and close by September 26, 2013.

The exact compensation is determined case-by-case based on a calculation that involves the home’s value, mortgage balance and other factors.

Borrowers can call 877-459-2852 to find out if they may be eligible for the program.

For questions on how to get the short sale process started contact me today!

Although short sales can be complex and messy, and can take anywhere from several months to more than a year to complete, they are turning into a mainstay of the real estate market.

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If you are a home buyer:  home prices are still affordable now.  Even though the Denver Market is starting to turn there are great deals to be had in this market.  If you are a first time buyer rates are out of this world right now.  Many people can buy a home in Denver for less than what they pay in rent.  If you are moving up to a luxury home in Denver you can get a steal of deal.   Denver Luxury homes have not caught up to the current market pace yet.   But over all not matter what price range you are in if you can buy a home in Denver…you should and you should be calling me today!

If you are a Denver Home seller: right now has been the best market for home sellers we have seen in years…. My average days on the market for regular sales is 3 days.  My sellers are getting their homes sold fast and for top dollar.  I can help you sell your home for the most amount of money in the least amount of time.  If you have been waiting for the Denver market to turn to sell your home now is the time.   If you want to sell and move…either up or down..you should be calling me today!

Denver Housing market great for sellers!

Denver Short-sale transactions are starting to outpace foreclosure sales, as more banks see it as a better option to curb high losses from foreclosures. More mortgage servicers are also trying to increase the pace of approving short sales, a process that is generally viewed as drawn-out and lengthy.

Denver Short sales increased over 20 percent in the last year.

I believe 2012 could be a record year for short sales.

This week, the Federal Housing Finance Agency, the regulator to mortgage giants Fannie Mae and Freddie Mac, issued new rules to speed up the pace of short sales. Mortgage servicers will be required to respond to a short-sale request within 30 days and make a decision about short-sale offers within 60 days. The new rules go into effect June 1.

If you are in the market for a Short sale or if you live in Denver and are considering doing a short sale on your home call me today. I am Denver’s leading short sale expert.

Prices in the Mile High City and its suburbs, which didn’t experience the extreme booms or busts of Phoenix or Las Vegas, rose in December, January and February. Foreclosures are ebbing. And homes are selling about 19% faster than they were a year ago.

Denver’s recovering market reveals that the rebound is likely to creep rather than surge ahead. Yet if you know how to price and market your home properly — which this story will lay out — you can finally list your home with confidence that it can sell reasonably quickly and close to your asking price.

Hiring a Denver Realtor to help you sell your home will make the process the easier and the transaction smoother.  My current average days on market is 3 days. I can sell your home fast and for top dollar.

Those consecutive gains were the first year-over-year price increases for the Denver area in 19 months.

Denver’s February home prices were up 0.5 percent in February from the same month a year earlier, following January’s slight 0.2 percent gain.

The latest Case-Shiller report again showed Denver’s home-price performance leading most of the 20 cities tracked by the report series.

Denver was one of only five cities out of the 20 to show a year-over-year price gain in February, and the only cities with greater rises were Phoenix (up 3.3 percent), Detroit (up 1.5 percent) and Miami (up 0.8 percent).

So if you are a Denver home owner and are thinking about selling your Denver home, now is a good time to sell. Prices in the Denver Market have stabilized and are increasing. My average days on market for a regular home sale is 3 days.

The 28 percent increase in release activity since last year's fourth quarter follows three quarters of falling mortgage rates and several months of increasing home-purchase activity,

Debt collectors will “set up fake profiles and befriend you on Facebook, just to get into your personal information,” says Denisa Tova, a financial planner, on the KDVR segment.

It’s not a new tactic — debt collectors have actually been using Facebook for years to reach out to people. Collectors have also been accused of impersonating a debtor’s friends online, or posting public messages saying the person owes money. In an increasingly aggressive environment, those tactics may be used more often

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