Did you know that 1 out of 8 American homeowners are in serious default on their mortgages and need help to resolve their mortgage crisis? Now there is great news for these multitudes of homeowners still in distress! The government short sale program, HAFA, just announced that for all HAFA short sales closing after February 1, 2015, sellers will receive $10,000 at the closing for relocation assistance funds providing they occupy the property at time the short sale is approved. If seller does not occupy the property, but there is a tenant, the tenant will receive the $10,000 to vacate the property at closing.
HAFA short sales are available with almost all servicers on conventional mortgages that have private investors. HAFA short sales are NOT available if seller's mortgage is Fannie Mae, Freddie Mac, FHA, VA, or USDA.
Other relocation assistance funds to short sale sellers are as follows:
-If seller's mortgage is FHA and property is owner occupied, seller will receive $3,000 at closing for relocation assistance.
-If seller's mortgage is DVA and property is owner occupied, seller may receive $1,500 at closing for relocation assistance.
-If seller's mortgage is conventional and Fannie Mae or Freddie Mac is investor and property is owner occupied, seller will receive $3,000 in relocation assistance.
All of these incentives require owner occupancy for seller to receive the funds - meaning a seller must live in and occupy the property and move when the short sale successfully closes.
If you are behind on your house payment or in a situation where your mortgage is out of balance with your budget - give me a call! Did you know that Acuity Group has successfully negotiated 60 short sales to date? Put our knowledge and experience to work for you!
Author: Stephanie Danielson, Broker/Owner
"If you are thinking of buying, selling, renting your home, or leasing real estate this year I'd love to hear from you! Working with an experienced professional can boost your profits!"
If you need assistance Selling or Buying Real Estate in Minnesota or Florida contact Stephanie Danielson: Direct: 612-242-8747 orStephanie@ACGproperty.com
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Acuity Group Real Estate Professionals
564 Dodge Ave Suite A
Elk River MN 55330
Property Management and Residential Rentals, Listing & Buyer Specialists, golf course properties, water front properties, acreage & hobby farms, condos & townhomes, association maintained properties, senior housing, luxury homes, vacation & secondary housing, CDPE (Certified Distressed Property Expert), Short Sale Specialist and REO sales & Investment property.
Serving the following Minneapolis Cities & Suburbs: Elk River MN, Zimmerman MN, Big Lake MN, Rogers MN, Otsego MN, St. Michael MN, Albertville MN, Princeton MN, Ramsey MN, Anoka MN, Nowthen MN, Monticello MN, Oak Grove MN, Burns Township MN, Champlin MN, Dayton MN, Hassen Township MN, Coon Rapids MN, Blaine MN, Fridley MN, St. Francis MN, Livonia Township, Andover MN, Becker MN, Baldwin Township, Orrock Township, Plymouth MN, Maple Grove MN, Osseo MN.
Serving the following Minnesota Counties: Sherburne, Anoka, Wright, Hennepin and portions of Isanti County