Short Sales are definitely alive...and the incentive to complete one has improved! Before considering a Short Sale, homeowners should weigh out the advantages and disadvantages of completing a Short Sale. To add to the Benefits of Completing a Short Sale, effective February 1, 2015, the relocation allowance for homeowners completing a Home Affordable Foreclosure Alternative Program (HAFA) Short Sale has increased to $10,000!! It’s important to note that the property has to be occupied and whomever occupies (homeowner or tenant) the property is entitled to the relocation fee.
You have a Junior Lien? No Problem. HAFA Guidelines for junior liens also changed. First Lien holders in a HAFA Short Sale were charged to provide $8500 from sale proceeds to junior lien. This amount has now increased to $12,000.00. READ MORE