Gainesville Virginia - Homes for Sale - Short Sales - Making Homes Affordable $1500 Closing Cost Incentive for Sellers
Gainesville Virginia - Homes for Sale - Short Sales - Making Homes Affordable $1500 Closing Cost Incentive for Sellers. According to Reality Times the Treasury, under the Making Home Affordable's "Home Affordable Modification Program" (HAMP) is expected to announce a $1,500 closing cost incentive for those who agree to short sales or deed-in-lieu deals (deed is transferred to the lender, avoiding the more costly foreclosure proceeding).
The Treasury will also pay the lender $1,000 for accepting a short sale or deed-in-lieu deal. Currently there is a provision to pay second lien holders up to $1,000 to relinquish their claim on properties.
A Short Sale occurs when the bank(s)/lienholder(s) allow the sale of the home for less than the existing mortgage balance. We can't control when financial problems arise but we can be informed and make wise decisions. If you find yourself behind on your mortgage or upside down and have to sell, call me for a Current Market Analysis, I am experienced in Short Sales and will get the job done.
Linda Coffey, Realtor®
Long & Foster Realtors
7526 Limestone Drive
Gainesville, VA 20155
Licensed in the Commonwealth of Virginia
(703) 973-2676
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