Banks paying Huntington Beach sellers to do Short Sales

JPMorgan Chase, Bank of America, and Wells Fargo are among lenders who are now paying underwater homeowners to do short sales according to a USA Today Report today:

“It’s a lot cheaper to shell out $10,000 or $20,000 to someone than it is to go through a long foreclosure,” says Jim Gillespie, chief executive of Coldwell Banker.

Banks are more willing to do short sales now than in the past, Gillespie says. Cash incentives appear to be “limited but increasing” in number, he adds.

http://www.usatoday.com/money/economy/housing/story/2012-02-19/lenders-allow-more-short-sales/53157246/1

 

In handling a recent short sale, The Scot Campbell TEAM encountered a bank who paid a Huntington Beach homeseller over $30,000 Cash at Closing as an incentive to proceed with the short sale.

For more information on the short sale process goto:  www.StartMyShortSale.com

For questions about buying and selling real estate in Orange County, contact Scot Campbell.  He is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA.  He has been a licensed broker for over 21 years and has brokered over 1000 homes and just about every type of transaction imaginable.  Read his profile and client reviews at www.ScotCampbell.com   He can be reached at 714-960-0700 at the office, 714-336-0394 on his mobile number or via email at Scot.Campbell@ColdwellBanker.com

 

 

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