The story:Underwater on their mortgage, the owner of this Issaquah townhome had decided to walk away and let the home go into foreclosure. The HOA president talked to the owners and convinced them to try a short sale.
Washington Property Solutions was able to successfully broker the short sale, as well as negotiate with the lender to get 100% of the seller's debt forgiven. Not only are the sellers in a better position financially than they would have been had they gone into foreclosure, they also got a bonus: a $23,000 cash incentive paid to them by the lender.
Lenders, including Chase and Bank of America, are paying significant cash incentives to encourage sellers to do a short sale and avoid foreclosure. The programs are for a limited time. Find out more about how short sale cash incentive programs work.
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