Incentive Programs Help Homeowners Recover After Completing Tucson Short Sale
For homeowners that are considering a Tucson short sale there may be an opportunity to qualify for short sale incentive programs. Whether offered through a private lender or a federal entity thousands of homeowners have already received some help getting back on their feet after a short sale. These incentives include cash at closing, tax breaks and protection from future legal action by your lender.
While the guidelines for qualifying are different for each program many homeowners stand a very good chance of qualifying for some kind of incentive. Tucson short sale incentives available through Fannie Mae and Freddie Mac will generally require that the home is the primary residence and that the loan is not a jumbo mortgage. One of the many federal progrmas available to Tucson homeowners is called HAFA. This short sale incentive rewards homeowners with up to three thousand dollars in relocation assistance and closing along with a deficiency waiver from your lender. This relocation assistance has no strings tied to it and can be used to get caught up on bills or as a down payment on your next home. The deficiency waiver will protect a homeowner that completes a Tucson short sale from being sued in the future by their bank for the debt that was forgiven. Short sale incentives available through your private lender will require that the loan is owned and serviced by the bank. These programs available through lenders like Bank of America and Wells Fargo have awarded homeowners up to fifty thousand dollars simply for completing a Tucson short sale.
Banks understand that a Tucson short sale is good for both parties and in turn are offering these great incentive to homeowners in need of a helping hand. Contact your short sale agent today if you are ready to sell your distressed property and interested in receiving something extra at closing.
