Tuesday, July 5, 2011

Real Estate Short Sellers With Incentive Programs in California

short sales

 

U.S. government and other seller incentive and assistance programs are available involving SHORT SALES in California. www.OCpropertynews.com" src="http://activerain.com/image_store/uploads/8/6/4/0/3/ar130988799630468.jpg" height="65" alt="short seller incentives - www.OCpropertynews.com" style="BORDER-RIGHT: black 3px solid; BORDER-TOP: black 3px solid; FLOAT: right; MARGIN: 2px; BORDER-LEFT: black 3px solid; BORDER-BOTTOM: black 3px solid;" width="277" />

The U.S. government HAFA short sale incentive program would allow payment up to $3,000 to sellers at closing for relocation assistance.

The California Housing and Community development program has income limitation to qualify (Seller income must fall within 120% of the low-to-medium California HCD Area Median Income as defined by the California State Department of Housing and Community Development for a family of four).  This short seller must write a hardship letter, and the loan must be in default or about to go into default.

If a seller qualifies for HAFA short sale, he or she might also qualify for the Keep Your Home California TAP program, which would pay seller up to $5,000 to move.  Some (but not all) servicers have agreed to participate with the TAP program.  If a seller is doing a short sale in CA with any of these lenders, he/she should consider signing up for the TAP program, and the following servicers are participating:

  • California Department of Veterans Affairs
  • CalHFA
  • Central Mortgage Loan Servicing Company
  • Community Trust / Self Help
  • Everbank / Everhome
  • First Mortgage Corporation
  • Flagstar Bank
  • GMAC
  • Guild Mortgage Company
  • Midland Mortgage Company
  • Saxon Mortgage Servicing, Inc.
  • Vericrest Financial

California home owner/short sellers should contact an experienced REALTOR® and find out about HAFA short sale and the TAP program and other short seller incentive programs now available.

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Source of some information ~ Elizabeth Weintraub, Realtor and short sale specialist, Sacramento, CA.

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs® - also now serving as a director at California Association of REALTORs®.

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Contact us with your questions about short sales, listing and selling of homes and properties at Orange County, California, real estate.  

Posted via email from Explore OC Homes

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