Short Sales Make Sense and Maybe Worth a $3,000 Windfall
Taking the “Short Sale” approach to selling your home and avoiding foreclosure makes more sense now than ever.
In addition to the given benefits of eliminating a financial liability and reducing the amount of damage your credit, you may now qualify to receive as much as a $3,000 allowance paid to you courtesy of a government program called HAFA (Home Affordable Foreclosure Alternatives.) Here are some of the benefits provided by the HAFA program:
- Unlike conventional short sales, a HAFA short sale completely releases you from your mortgage debt after selling the property. You will no longer be responsible for the amount that falls “short” of the amount you still owe. The deficiency is guaranteed to be waived by the servicer.
- HAFA lessens the negative effect on your credit score than foreclosure or conventional short sales.
- When you close on the sale, HAFA may provide up to $3,000 in relocation assistance.
A Licensed Real Estate Broker with experience in Foreclosures and Short Sales can fill you in on the details. My advice; check it out!