Banks are stepping up their efforts to persuade struggling homeowners to accept a short sale instead of going through a costly foreclosure, according to new reports, with some banks prepared to offer borrowers up to $35,000 to ‘get out of jail’ earlier.
Short Sale Incentives For Cash-Strapped Homeowners
June 29, 2011 by
Two of the nation’s biggest lenders are giving away cash rewards to struggling Florida homeowners who agree to stave off foreclosure by doing a short sale instead, according to reports in the Florida Sun-Sentinel. Wells Fargo and JP Morgan Chase haven’t made any official announcements about the initiative, but indebted homeowners have reported that
