For those homeowners who are considering a Santa Monica Short Sale now may be the best time ever to complete one. Given the large number of short sale incentive programs, along with affordable housing and lending, homeowners have a rare opportunity to start over while also getting a little help back on their feet. At Toni Patillo and Associates we can help you learn which short sale incentive programs your Santa Monica Short Sale qualifies for.
These great programs are available through both private lenders, like Wells Fargo and Bank of America, as well as federally back programs linked to Fannie Mae and Freddie Mac. For homeowners who have a mortgage note owned by Fannie or Freddie there are a handful of short sale incentive programs to consider. One of the more common programs is the HAFA program. Santa Monica Short Sales that qualify for this program will receive up to three thousand dollars in relocation assistance along with a deficiency waiver from their lender following a short sale. The relocation assistance cash has no strings attached to it and can be used for catching up on bills or a down payment on your next home. The deficieny waiver from your lender is very valuable because it protects homeowners from future legal action by their lender. Homeowners who complete a Santa Monica Short Sale that have a mortgage ownedand serviced by a private lender may qualify for entirely different programs. These programs have already awarded homeowners up to fifty thousand dollars simply for completing a Santa Monica Short Sale.
If you are considering selling your distressed property make sure your agent knows which of these programs you qualify for. While a Santa Monica Short Sale is a great opportunity these incentive programs are the cherry on top when it comes to starting over on your real estate goals.