A New Government Short Sale Program

Another new relief plan is around the corner, courtesy of the federal government. Its purpose is to assist homeowners who can’t afford their mortgage payment or obtain a loan modification. The new plan is called the Home Affordable Foreclosure Alternative, and is intended to help homeowners into a short sale or deed in lieu and avoid foreclosure.

One incentive is that once a home owner is approved under the plan they will receive $1,500 in relocation money from the government.

To qualify a homeowner’s mortgage is required be in or near default. The house must be a principal residence. Any second lien must be paid off or negotiated away, so the title will be clean.

The plan is expected to start April 5, 2010, and end Dec. 31, 2012.

To find out what is going on in Hoboken real estate market, please go to Hoboken Homes.      

There may be many people who are struggling to pay their mortgage but you may be one of many who are eligible for the new Home Buyer Credits. Please go to tax credit information for more details. This opportunity could help change your life for the better.

Allow me to help you explore the many wonderful opportunities to purchase a home in Hoboken. Whether it be a lovely condo, brownstone, Classic Victorian or anything in between; I guarantee you there is a home for you. Please contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey

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Explore posts in the same categories: Foreclosure, Short sales

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