This is the best news for Short Sales that I've heard in a while. I am researching to see if I can get a list of other banks/lenders that are doing the same or similar programs.
Homeowners: please check with your agent to see this program is something your bank/lender is willing to do.
Stay tuned and Thank you Mike.
Via
Mike Jackson Realtor Pleasanton Homes For Sale (Realty World Global):
Wachovia has increased their incentive for you to short sale your home this month of October 2009. If you can't afford to make your payments and your equity is upside down, see if you can apply for a loan modification by calling 888-308-3964. If you don't have a job or can't prove your income you will not qualify for the loan modification and the short sale will be your next best option. Wachovia will pay up to $5000 for you to list and short sale your home and they have a very quick turn around time for approvals here in the Bay Area. The vice president of the Wachovia short sale department here in Livermore told us they can have an approval within a week since they currently don't require income documentation or a hardship. You don't have to be late to short sale your home and ti can be your owner occupied property, second home or investment property. If anyone decides to walk and think that's their best option the lender will 1099 you for the full amount. Call me today to go over your options.
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