Relocation Assistance - $1500 - Available to Distressed Homeowners

Real Estate Agent with Coldwell Banker Sea Coast Realty

Today, April 5, 2010, the Federal Government will be offering assistance to homeowners in distress to relocate.  This latest program will allow  homeowners to sell for less than they owe (short sale) and have a little cash to send them on their way.  The government intends to spread its cash to various parties, including the homeowner, the lender that services the loan, the investor that owns the loan, and the bank that owns the second mortgage.  Under the guidelines of the new program, the servicing bank will get $1000.  Another $1000 is available if there is a second loan.  And for the first time, the government will give $1500 to the distressed homeowner for relocation assistance. 

This  could prove beneficial to the homeowner, as they will not suffer additional credit damage.  Plus, they will get reassurance from the lender that they will not be sued for the balance.

For information on Wilmington NC Short Sales, email Diane at, or call 910-617-5244.

Wilmington, NC Real Estate

Diane Parker, Broker

Coldwell Banker Sea Coast Realty


Comments (1)

Scott Lewis
The Bald Man Group - Post Falls, ID


I had heard about this program ... any links to read more about it?

Apr 05, 2010 08:42 AM