Saturday, August 25, 2012

Urgent-Do you qualify up to $30,000 free money from a short sale?




 Don't Miss Free Money- Limited Time 
The lending institutions, Bank of America, JP Morgan Chase, GMAC, CitiMortgage and WellsFargo, have a relocation assistance incentive program for distressed homeowners. They offer relocation assistance funds up to $30,000 after the Realtor has sold the home. The homeowner receives their money at the closing table. The HAFA, Home Affordable Foreclosure Alternative, Program is a win-win situation for the lender and the homeowner to prevent foreclosure procedures. Under the Dodd-Frank Act, the HAFA, Home Affordable Foreclosure Alternative, requires the homeowner to qualify for the program. The qualifications for the HAFA Program are as follows: 
  1. Homeowner - primary residence in the State of Florida
  2. Must qualify for the HAFA Program
  3. List your home with a license Florida Realtor 
  4. Close the transaction on or before September 26, 2013
  5. Minimum relocation assistance is $2,500 to $30,000. It is based on the unpaid principal balance on the loan.
  6. Relocation Assistance Funds will be documented on the HUD1 and 1099 MISC will be issue for taxes.
  7. Ginnie Mae, FHA, VA and USDA Loans are ineligible for the program.
  8. Lot Loans are ineligible for the program.
Relocation Calculation of Funds
The lender calculates the relocation assistance funds from the unpaid principal balance of the loan. Since the full balance of the loan isn’t paid at closing, the lender may file a deficiency judgment.  As of December 31, 2012 the homeowners do not have to pay taxes on the relocation assistance funds.

Re-establish Credit
The homeowner may lose at least 180 to 250 points on their credit score. It depends on the how the other accounts on their credit report were paid. The applicant will need to rebuild their credit report within the next three years after a short sale. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores after a short sale. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com
 
We provide monthly newsletters on how to increase an applicant's credit scores and weekly blogging information at increaseyourcreditscorenow.blogspot.com


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1 comment:

  1. Dear Customer


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    Regards,
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    PON YEE CASH LOAN COMPANY

    ReplyDelete