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Our Clients are receiving Cash Incentives to Short Sale.

Money-to-short-sale46% of the short sales we have closed received some kind of cash incentive this year. The average cash incentive for our short sale clients is over $6,200.00. We also work with your bank to have second liens and Homeowner Association fees reduced. This ensures that there is never any out of pocket expenses to you. Being able to have your debt forgiven and receiving cash at closing to relocate into more affordable housing is a much better option for struggling homeowners than letting the home go into foreclosure.

 

What is Short Sale Relocation Assistance?

All major servicers are now offering cash to homeowners who short sale their home through the HAFA (Home Affordable Foreclosure Alternatives) program rather than allow their homes to go into foreclosure. For homeowners who can no longer afford their homes, the HAFA Program has become very successful and has given our clients a softer landing after the short sale. HAFA is short sale program under HAMP (Home Affordable Modification Program) that offers $3,000 in relocation assistance. In addition to compensation for moving expenses, homeowners do not have to pay the mortgage deficiency after the property is sold.

We compiled data from MLS and found that short sale homes sold for 24% more than foreclosed homes in San Diego in 2011. That substantially decreases the loss for banks. This is why many of them are now paying incentives for distressed homeowners to do a short sale.

Offering cash incentives through a short sale makes more sense financially for banks than going through with a foreclosure. Foreclosures are costly and time consuming for banks. Banks are not in the business of owning and maintaining properties. Every month homeowners don’t pay their mortgage payments, banks lose money and the home may even lose value during this time. So in the end, a cash incentive costs less for banks than starting the foreclosure process on the property.

 

How Much Are Short Sale Sellers Getting?

Some major banks such as Bank of America, Chase, and Citi are paying their own incentives on their own loans. Last year Chase began offering the largest short sale incentive to distressed homeowners which can be as much as $45,000. We have helped clients with several of these types of incentive programs. In October of 2011 we were able to obtain our first large Chase Bank short sale incentive as one of Chase’s Priority Partners, a special designation given to us by Chase for our superior understanding and knowledge of the short sale process.

Overall, we have negotiated over $269,000 in relocation assistance for our short sale clients this year and we would like to help you too.

If you can no longer afford to stay in your home, contact us about doing a short sale.

Are consultations are always free and there is never any obligation. 

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925 B Street Suite 102
San Diego CA, 92101
Phone: (888) 746-7820
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Website: http://shortsaleexpert.com
Email: info@shortsaleexpert.com

Short Sale Expert

Encore Real Estate Group
CA DRE Lic. #01883210

Broker: Troy Anthony Huerta
Agent: Leon Cook
CA DRE Lic: #01028204
CA DRE Lic: #01866021

925 B Street Suite 102
San Diego, CA 92101

Phone: 1-888-746-7820
info@ShortSaleExpert.com