Hello, here I am providing you the details of the Short Sale Process of the Bank of America as under:

About the service:
If you want to sell your house but it's worth less than the amount remaining on the mortgage, a short sale may allow you to sell your house and settle your mortgage debt.

Cooperative Short Sale Program
An alternative if you don't qualify for HAFA
$2,500 for relocation assistance
Foreclosure process may be halted, subject to applicable law.

Program goal
A Cooperative Short Sale may help settle your mortgage debt and prevent foreclosure. In addition, you may qualify for financial assistance to help with relocation costs.

Eligibility
You're not eligible for or were declined for the federal government’s Home Affordable Foreclosure Alternatives program
You owe more on your house than it's worth

Home Affordable Foreclosure Alternatives (HAFA)
$10,000 for relocation assistance
Foreclosure process may be halted, subject to applicable law.
Deficiency waiver

Federal Housing Administration (FHA) Short Sale
You may be eligible for relocation assistance
Foreclosure process may be halted, subject to applicable law.
Deficiency waiver

Program goal
Homeowners with loans insured by the Federal Housing Administration (FHA) may be approved to participate in an FHA Short Sale as an alternative to foreclosure.

Eligibility:
Your property is owner-occupied, unless the following apply:
- Your reason for leaving the property is the same reason you couldn't make your mortgage payments
- The property wasn't purchased as rental investment or used as a rental unit for more than 18 months