According to the Florida Sun-Sentinel, JP Morgan Chase and Wells Fargo & Company are offering a cash reward to certain Florida homeowners who agree to a short sale. Some defaulting homeowners in Florida have confirmed receiving $10,000 to $20,000 from banks in order to agree to a short sale.
The banks are not giving many details on why only some Florida homeowners are being chosen and not others. The only comment is that it is determined by "individual circumstances," according to the Sun-Sentinel.
In the first three months of 2011, RealtyTrac, Inc., reported the average foreclosure in Florida took 619 days. The incentive program would all the banks to write-off the bad loans quickly and avoid the lengthly foreclosure process.
We have written in previous posts about the benefits of doing a short sale as opposed to being foreclosed upon by the lender. As a Certified Distressed Property Expert (CDPE) and a Realtor, I am uniquely qualified to help distressed homeowners complete a short sale.
If you are thinking of selling or buying a home, or require more information, please to text me or call me at 561-247-3550. Text me your e-mail address for free home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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