I've actually SEEN now, and keep hearing about Short Selling sellers receiving HUGE amounts. I was on a transaction where the Seller received $30,000 for selling after NOT PAYING for a year!! That was from Chase. When I asked the negotiator on one of my Chase listings, I got a very nebulous answer...but the closest thing she could tell me was that "a letter went out to select borrowers" (she had no idea what the criteria for this "selection" was.) But any Seller that responded was eligible to receive enhanced co-op funds.
Now, I see this happening with B of A too. But, par for the course...nobody at B of A has any idea of how this works. It seems like it would be a REALLY sweet deal to get $30,000 to sell a house worth half of what your mortgage is AND get a defiecency waiver!
Does anyone have any insight as to how this program works...or how to find out if a homeowner qualifies?
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