The Save Our Home AZ Short Sale Assistance Program
Get PAID to Short Sell your home! State of AZ is paying $4500 to Eligible Homeowners to Short Sell their home. Eligibility for the Save Our Home AZ assistance is based on a variety of factors. Call your AZ Short Sale Agent, Jessica Sulliman, today for a consultation.
Properties that have been used for cash-out are eligible if current mortgage(s) do not exceed 150% of the original purchase price.
The homeowner must document a 10% or greater reduction of income.*
Assistance provided on First Mortgages that are less than $729,750.00.
The homeowner’s current mortgage payment(s) is equal to or greater than 31% of the borrower’s gross, pre tax monthly income.*
Homeowner may be current on their mortgage provided they do not have more than 3 months Principal, Interest, Taxes and Insurance (total PITI mortgage payments) in liquid assets. Otherwise, homeowner must be 2 payments past due.
Homeowner must be no less than 30 days from Trustee Sale Date. If you are two weeks from your foreclosure sale date, we will need to get this postponed before you can apply.
The household must have gross income (the total income before taxes, health care costs, social security, etc.) of no more than 150 percent of the area median income for the County in which the property is located. (i.e., for a family of 4 in Maricopa County the income limit is $98,250)
*These qualifications do not apply to those seeking assistance in conjunction with HARP 2.0.
Short Sale Assistance
1). Assistance up to $25,000.00 (including all other program assistance) distributed as described below.
2). Maximum of $4,500.00 in transition assistance paid to the consumer!!!
3). Maximum of 3% of the sales price for buyer’s closing costs paid on behalf of the seller.
The SOHAZ program is administered by the AZ Department of Housing on behalf of the AZ Home Foreclosure Prevention Funding Corporation (AHFPFC). Funds for the Program come from the U.S. Department of Treasury, Housing Finance Agency Innovation Fund for the Hardest-Hit Housing Markets. The Program provides assistance to eligible Arizona homeowners in the form of Principal Reduction Assistance for modification or HARP 2.0 refinances, unemployment/Underemployment Mortgage Assistance, Reinstatement of delinquent payments, Second Lien Elimination, and Short Sale Assistance.
To determine program eligbility, a homeowner must complete an assistance application and provide all necessary supporting documents to be reviewed by the Program underwriters PRIOR to selling their home. Call Jessica Sulliman today at 602-677-7977 for your FREE Short Sale consultation today.