Short Sale Assistance with Relocation

Dated: 11/30/2012

Views: 909

RELOCATION ASSISTANCE FOR MARYLAND SHORT SALE

Many consumers are unaware of the many benefits of a Short Sale, in the past the main benefits were the ability to “walk-away” free and clear of the deficiency.  Now many servicers and lenders are upping the ante, BIG TIME, by offering Relocation Assistance for Maryland Short Sales.

Bank of America, Chase, Citimortgage and Wells Fargo have various programs offering homeowners up to $35,000 in relocation assistance for Maryland Short Sales !

YOU READ THAT CORRECTLY YOU MAY RECEIVE UP TO $35,000 in Relocation Assistance for Maryland Short Sales !

Each Servicer/Lender has their own guidelines and obviously not everyone qualifies for a full $35,000 but $3,000-$5,000in relocation assistance for a Maryland Short Sale is very common.

So now the benefits of a short sale are not only the ability to walk away from your mortgage free and clear, but BANKS ARE GOING TO PAY YOU TO SHORT SALE YOUR HOUSE !

This Sounds too good to be true why would banks do this ?

This is a simple financial decision on behalf of the banks, they are not doing this because they are generous!  See the Maryland Foreclosure Process is very lengthy and costly, banks also know that if a homeowner vacates a property then the bank has to maintain the property, pay the taxes, cut the grass, etc..  Many times when a property is abandoned, bad things happen, vandalism, mold, theft, etc.  so the banks typically have to either make repairs to the property after foreclosure or they sell the property to an investor at a discount.

So the banks have figured out that it would be less costly to them to pay the homeowner Relocation Assistance for a Maryland Short Sale, rather than deal with the alternative.

 

Once again each bank has different guidelines when it comes to Relocation Assistance for a Maryland Short Sale so it is IMPERATIVE that you speak with a Maryland Short Sale Specialist to discuss your options.

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John Newman

John graduated from the University of Maryland with a B.S. in Finance and started his career as a Financial Advisor with Merrill Lynch where he assisted high net worth individuals with their investmen....

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