Lenders Paying Homeowners Significant Cash Incentives for Short Sales Instead of Foreclosure
If you are facing foreclosure, there’s good news. Lenders, including Chase and Bank of America, have started paying significant cash incentives to encourage sellers to do a short sale and avoid foreclosure.
In the past few months we have had homeowners receive checks from their lender at closing in amounts that range up to $35,000. And these large incentives are not restricted to owners of high-end properties. The owner of a short sale property that recently sold for $164,000 received a check for $25,000. The checks are given for relocation assistance and can be used however the homeowner sees fit. There are no restrictions.
It’s important to note that the seller incentive is determined by the investor, so not every lender is paying incentives. However, if you facing a foreclosure, it’s a good time to find out if you qualify.
Do you qualify for cash incentives to avoid foreclosure?
Call Washington Property Solutions today at 425-381-2233 or toll-free 866-732-9725 to talk to a short sale specialist.
Chase Pays $30,000 Incentive to Duvall Short Sale Seller
|Amount owed on first mortgage:||$600,000|
|Amount owed on second mortgage:||$66,500|
|Total debt owed:||$681,500|
|% of debt forgiven:||100%|
|Cash incentive paid to homeowner from Chase:||$30,000|
Why work with Washington Property Solutions?
- Over 900 closed short sale transactions
- Nine years experience in the industry
- Expertise working with your individual lenders
- High success rate releasing you from debt
- Experienced with HAFA program and the Washington State Foreclosure Fairness Act
- Our short sale experts are experienced Windermere real estate brokers with extensive knowledge of the short sale process in Washington State
I want to let you know how much we appreciate all you have done. You allowed us to avoid foreclosure on both our home and our rental property. There could not have been a better resolution to a really stressful situation. You were fantastic to work with.
Sara Bashore, Homeowner, Bothell, WA
When health and family issues forced me to sell my home, I didn’t know what to do. You were so patient about explaining the process and dealing with the complicated details. Not only did my house sell, but you were able to negotiate with the lenders so I didn’t owe a thing. I was able to put it all behind me and move on with my life. Thank you for taking such good care of me.
Lisa Sargeant, Bellevue, WA
Washington Property Solutions
Windermere Real Estate /East Inc.
11100 Main Street, Suite 200, Bellevue, WA 98004