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A program is in the works to promote incentives for short sales

This would assist out sellers of Short Sales on a huge level amongst the properties that we negotiate within the Santa Clarita Valley and the Surrounding Communities.

We have developed some wonderful applications to assist with our Sellers and their Short Sales – we have even built stand alone sights aimed at the education of the Sellers of Short Sales. 

Incentives are in the works for promoting short sales in order to avoid more foreclosures than are seen as necessary.  The plan is meant to prod lenders into allowing more short sales.  Currently short sales are frequently avoided by lenders because the offers that come in are seen as too far below the last appraised value of the property, even though the foreclosed upon sales price in the end may be even lower.

The incentives that are being mulled over are expected to pass soon.  The plan is to give the lender $1,000 for allowing a short sale to occur and the buyer a $1,500 credit at closing.  The plan is expected to be passed by the treasury as a way to keep properties selling.

Short sales are seen as a way to help the home owner avoid a harsher hit to his credit as well as to get the house off of a lenders books before it even gets there officially.  The new incentives are seen as a way to avoid the foreclosure rate increasing more than expected.

For more information about the short sale incentive click here to read an article from Realty Times.

If you are thinking about whether or not you should short sale your home – you need good Short Sale advice from  reputable sources.  Feel free to contact the Paris911 Team at RE/MAX of Santa Clarita and we will be your conduit.