I have had a number of
instances lately where the seller was not allowed relocation assistance when
completing the short sale and the sellers were more than a
little upset. It is important that we discuss this because West Sacramento Short Sale relocation
assistance is not a right or entitlement, it is a benefit for selected loan
types, selected investors and qualified borrowers. Not every homeowner who
participates in a West Sacramento Short Sale will get
relocation assistance. Now think about what I just said. If I used this
platform for the sole purpose of getting people to call me to list and short sale their house I would be touting
the benefits of relocation assistance and how plentiful it is – but those who
know me, know that is not the case. Unlike some West Sacramento short sale agents, as a Default Advocate I have a responsibility to
dispense the truth and offer assistance to distressed homeowners, not prey on
their needs with false hope and offers of cash at closing when I know it won’t
happen. We apply for it every time regardless if the homeowner qualifies or
not. Ok off the soap box let’s get back on topic.
West Sacramento Short Sale relocation
assistance differs by loan type, participating servicer and investor and lastly
the seller / homeowner. News flash here guys, the servicers don’t have to offer
relocation assistance if you don’t qualify.
If you have an FHA loan the most you might get is $750 -
$1000. If it’s HAFA, $3000. For HAFA your payment on your first mortgage
must be 31% or MORE of your gross household income or you don’t qualify. Under
certain circumstances Bank of America and Chase have
offered up to $30,000 although the most I have ever seen is $10,000. The large
amounts are for certain special loan types only.
What you need to keep in
mind is this: You are walking away from a tremendous debt with zero
responsibility for the unpaid balance and in most cases zero responsibility to
pay the income taxes on that forgiven debt. In many cases you have enjoyed the
benefit of living rent free for as much as a year. In the case of a second lien
that was a HELOC, however the money was spent you don’t have to pay it back.
Now I know this is not
going to be a popular post because it does not promise living free and getting
paid to move but I would rather not work with you than tell you something I
believe not to be true.
Is a West Sacramento Short Sale Right for Me?
To get a better idea of when your West
Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for
a free estimate or call me today for a free no obligation consultation or for
the latest West Sacramento short sale information. Call me
today and sleep better tonight; you’ll be glad you did
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