Great news for our Orlando Florida homeowners. The banks are now required to give you $10,000 in relocation assistance on an owner occupied HAFA short sale. This has increased from the $3,000 relocation incentive previously offered by HAFA.
You will still have to qualify for the HAFA short sale and the loan can not be owned by Fannie Mae, Freddie Mac, VA or FHA for this $10,000 incentive. We are hopeful Fannie and Freddie will follow suit and increase their incentives as well. The new directive is for new short sales that close after February 1, 2015. If you are unsure who owns your loan just ask, we will assist you in getting the most amount in relocation funds possible.
We have a seller who has already qualified for the $10,000 HAFA incentive in Orlando and we will be closing by the end of the month. Needless to say she is thrilled to be getting a $10,000 relocation amount instead of the $3,000 originally offered by the lender. In this case losing our first buyer was a $7,000 bonus to her family.
If you are considering a short sale or know someone who needs our assistance please contact us to discuss your options.
When you hire an agent ask them to show you their recent approval letters or some of their closed sales. You want to have a Short Sale expert on your side. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort.
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