Top Banks Encourage Short Sales With Large Monetary Incentives

February 17, 2012 by  
Filed under Short Sale/Loan Modification Blog

Apparently, President Obama is not the only one actively trying to help homeowners in these dire economic times.  Just a few days ago, some of the biggest banks, including JPMorgan Chase, Wells Fargo, and Allied Financial, announced an incentivized effort to help troubled homeowners wipe their mortgages off the books.  These banks are currently offering up to $35,000 in cash to homeowners who opt for a short sale.

In a short sale, a bank or lender will accept less than the outstanding amount that the borrower owes.  Short sales are top option not only because of the current foreclosure backlog, but also because the foreclosure process overall is extremely slow and tedious.  When modification is not an option, a short sale produces better results for both the homeowner and the lender.

If you are underwater on your mortgage and making payments is a financial nightmare, you should strongly consider a short sale.  Housing Assist of America has helped thousands of Los Angeles homeowners in preventing foreclosure on their homes.  If you are considering a short sale, now is the time, especially with the added bonus from these banks.  Housing Assist of America will not only help you conduct a short sale, but help you collect these massive incentives as well.

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