Short Sale

Short Sale Expert Advice, Short Sale Agent, Short Sale Negotiation

To motivate home owners to consider a Short Sale, most major lenders including Chase, Citibank, Bank of America offer cash for short sale!   The latest addition to this is Wells Fargo Home Mortgage who is offering cash for Short Sales as well.  

Bank of America, Chase have much more generous cash incentives with some as high as $35,000 to Home Owners who participate in Short Sale.  Wells Fargo Home Mortgage has also started a program to offer a relocation incentive.  Early indications are that the Wells Fargo cash incentive is initially targeted to loans they inherited from the acquisition of Wachovia and World Savings Banks.   But don’t expect any flashy Press Release from Wells Fargo since that’s not the kind of bank they are.  

But if you have a Wells Fargo, World Savings, or Wachovia Bank loan, it’s smart to start opening the envelopes you are getting from the bank these days since it will contain an incentive to sell your home.  It could contain a time-sensitive Cash Offer that could expire if you don’t act quickly.  

Keep in mind that in HAFA Short Sale of a 1st lien, the banks are only offering a limited amount of Relocation Funds which ranges from $3,000-$6,000 dollars.   So, you will need to decline a HAFA Short Sale with a hand-written letter if you want any of these large cash incentives for your Short Sale.

Some banks like Chase are offering $25,000 for Relocation.  Bank of America has similar programs and now Wells Fargo Home Mortgage has also jumped into the foray.  Is it possible they are starting to feel guilty for what they have done to this economy?!   

Contact Us if you have any questions on your Short Sale.

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