Wilmington NC Real Estate Homeowners
Starting April 5, 2010 the Government will be paying homeowners in default, to relocate. The new program will demand lenders to honor short sales whereby the homeowner can sell the property for less than the mortgage payoff. The Obama administration is trying a different approach to assist more than 5 Million households who are behind on their mortgages. In turn, the homeowner will receive $1500 for relocation assistance and the lender $1000 for expediting the short sale process.
This arrangement could prove very beneficial to the homeowner, as they will not suffer further credit damage and they will get reassurance from the lender that they will not be sued for the balance. And, under this arrangement, the number of potential foreclosed homes on the market should drastically decrease which in turn, should improve the overall housing market.
Finally, short sales will have their day! If you are facing a foreclosure, and need assistance, we are specialists in the Wilmington NC real estate short sale and foreclosure market. We are there for you every step of the way. Just give us a call or email email@example.com.
And, if you are looking to purchase a short sale or foreclosure, we have you covered there, as well. We have a Certified Distressed Property broker on our team and will help you with your short sale or purchase a short sale or foreclosure with complete knowledge of the process. Read more here