On May 25 we posted about the Short Sale Relocation Assistance Program being offered nationwide by Bank of America. Borrowers that successfully short sale are receiving funds to aid in the costs of moving and relocation of the principle resident of the property or tenant at the time of the closing. However it is not just Bank of America offering funds for relocation, other lenders are also on board.
J.P. Morgan Chase: is offering from $5,000 up to $40,000 dollars under the Chase Mortgage Short Sale Incentive Program. In addition the borrower could be qualified for an additional $3,000 if they successfully go through a HAFA short sale.
Citi Bank/Group: is offering an average incentive of $12,000 for borrowers lending through CitiBank.
Wells Fargo: is suppling “enhanced financial relocation assistance offers” up to $20,000 to several buyers especially in Florida and other East Coast states plagued by long and complicated foreclosure processes.
Wachovia: is offering incentives between $3,000 and $5,000 for those that successfully short sale.
*All Fannie Mae and Freddie Mac lenders are required to participate in the Home Affordable Modification Program (HAMP), which means they also all participate in the Home Affordable Foreclosure Alternatives (HAFA)!
Whether through a HAFA short sale or by traditional Short Sale, homeowners that are underwater are being offered anywhere from $3,000 to $40,000 at the closing table to aid in their relocation. With lenders being this motivated, you don’t have to foreclose! Take advantage of the opportunities and don’t continue to struggle with a mortgage that’s pulling you under! Free yourself!
Know your options!
Call or email Bradley for a no obligations consultation!
All information is confidential!
For More Information:
Principal / Acquisition Specialist @ Team Chais
Phone: (813) 928-4308