For homeowners who are already considering a West Chester Short Sale make sure your agent can get you the best deal available. As short sales become more and more common lenders and investors, including Fannie Mae and Freddie Mac, have started introducing incentive programs for homeowners who complete a short sale. These programs serve many different functions from saving you on your taxes to helping cover the costs of moving. No matter the benefit make sure your agent is able to negotiate the best deal fo your West Chester Short Sale.

Some of the more common incentive programs include the HAFA program and the Mortgage Debt Relief Forgiveness Act available through the FHA. The HAFA program provides two great benefits to homeowners that complete a West Chester Short Sale. The first and most important benefit is getting your lender to waive their deficiency rights after your short sale is complete. When completing a West Chester Short Sale the debt that is forgiven is a deficiency balance and by law your lender can sue you for this amount in the future. Thanks to the HAFA program your lender will waive their deficiency rights meaning they can never come after you in the future. HAFA will also provide you up to three thousand dollars in relocation assistance to help with moving expenses. This money has no strings attached and can be used to get caught up on bills or for a security deposit on your next home. If your mortgage is owned and serviced by the same company it is very possible you will qualify for additional short sale incentives through your bank. Large national lenders, including Wells Fargo and Bank of America, have provided homeowners with cash incentives of up to thirty thousand dollars for completing their West Chester Short Sale.

When selecting your short sale agent make sure they have experience with these great incentive programs that can help you get back on your feet. If you are in a position to complete a West Chester Short Sale the last thing we want is unwanted expenses. These great short sale incentives will help you keep money in your pocket and move on after completing your West Chester Short Sale.