You’ve taken an important step toward protecting your home.
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(3) If you have an hoa, community board, or pud committee, they are contacted by BounceBack or your attorney for a closing package so bounceback can operate the property DURING YOUR PROGRAM.
(2) The amount of cash advanced, if any, is dependent on the appraised value of your home and the agreed to debts that need to be paid off. In many instances BounceBack is unable to advance any cash at closing. For example, if total paid off debt at closing is greater than 60% of appraised value, we will not be able to advance any cash.
(1) Estimated Net Equity is the estimated net value based on the current appraisal, less your mortgage payoff and other agreed-upon debts, your cash-upfront payout, and BounceBack’s fees, related financing costs, transaction costs, and closing costs, all of which are subject to changes in the home’s value. For example, if the home’s value decreases due to market conditions or failure to properly maintain the property, the estimated net equity will decrease. The estimated net equity also assumes that you make all required contractual rental payments. If you fail to make any rental payments, your estimated net equity will decrease.