I know it’s hard to believe. But it’s still true. You may qualify for a cash incentive*** from your Lender to do a Short Sale.
***These programs are not available to all Sellers and the incentives may vary from State to State.
Here are the Short Sale Incentive Programs that I am aware of:
HAFA. Home Affordable Foreclosure Alternative. Lender will pay the Seller $3,000 as a Relocation Assistance. Only for primary residences.
FHA PFS. HUD Pre-Foreclosure Sale. Seller can receive $1,000 for relocation assistance. Just yesterday I received FHA PFS approval increasing the seller incentive to $4,000!! Only for primary residences.
Chase Short Sale Incentive Program for select Borrowers offering them up to $35,000 to do a short sale.
Bank of America Co-operative Short Sale. From $3,000 to $20,000 Short Sale Incentive.
Citi Bank, Wells Fargo and Ocwen also have programs available for select home owners. Amounts vary from $3,000 to $35,000. Most are in the $5,000 range.
Folks if you are behind on your payments be sure to open any and all mail you receive from your lender. It could very well be an offer to Short Sale your property. These offers are usually time sensitive and require immediate action on your part.
But why would my Lender pay me to do a Short Sale? That’s a good question. For one, it less expensive, for them, for you to cooperate during the Short Sale process and maintain the property than it is for the Lender to foreclose and get an abandoned property back. Also, the Lender does not want you to continue living in the property for free. They would rather pay you to do a Short Sale now than have you live there for another year or so while deciding what to do. The incentive gets you to take action.
Whatever their reason is.....it’s a good opportunity for you. Any questions?
Are you under water on your Florida mortgage?
Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.
Want to find out more? www.CentralFloridaShortSales.com
***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.
Copyright © 2011 http://www.brokerbryant.com/ | All Rights Reserved
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.
You need to be a member of Short Sale Superstars to add comments!
Join Short Sale Superstars