For a limited time, qualified property owners who participate in a Cooperative Short Sale or Home Affordable Foreclosure Alternatives (HAFA) program may be eligible to receive $2,500-$30,0001 in financial assistance.
If you have a Federal Housing Administration (FHA) insured loan, you must have the FHA’s approval before beginning a short sale that the FHA will accept. Also, with an FHA-approved short sale, you may be eligible for up to $1,000 in relocation assistance.
Cooperative Short Sale Program
By selling your house in a Cooperative Short Sale, you may get these and other benefits:
Home Affordable Foreclosure Alternatives (HAFA)
By selling your house in a HAFA Short Sale, as opposed to the traditional short sale process, you may get a number of benefits:
- $3,000-$30,000 for relocation assistance
- Foreclosure process is halted with approval of a purchase offer
- Deficiency waiver
Federal Housing Administration (FHA) Short Sale
If you’re approved for and successfully complete an FHA Short Sale, you may benefit in several ways:
- You may be eligible for relocation assistance
- Foreclosure process is halted with approval of a purchase offer
- Deficiency waiver
Traditional Short Sale Process
By selling your house in a short sale rather than going through foreclosure:
- You’ll avoid eviction; however, you’ll still need to vacate the home
- Your house will not be sold at a public sale or auction
The Law Office of Beth Mann, P.C. 