Cash Back for Short Selling a Las Vegas Home?
Posted by Paul Francis on Tuesday, February 7th, 2012 at 4:39pm.Can You Get Cash Back for Short Selling Your Las Vegas Home?
Yes. It is possible to get cash back at closing for short selling your Las Vegas home if you qualify. Some lenders do want to get rid of the home loans that are secured by homes that are worth far less than the mortgage and will actually pay you cash at closing.
For these particular lenders, it makes ABSOLUTELY no sense to just walk away from your home and let it go to foreclosure.
Does it have to be a Primary Home?
NO. I've successfully closed short sales for investors and they received cash back at closing AND all future deficiency judgement rights were also completely waived. This allowed the homeowner to completely move on in life and not be saddled with a bad investment that will probably take well over a decade for the value of the home to be worth what is owed on the property.
How do I know if I qualify?
Sometimes the lender will actually tell you up front that you may qualify. Do not ignore letters from your lender that may be attempting to help you! I just helped one homeowner qualify for $2,500 cash back at closing upon a successful short sale by helping him fill out some paperwork and gather some financial documents that took about 30 minutes to do.
Even if you have a job with enough income to pay the mortgage and money in the bank, there are lenders that want your home loan off of their books and will allow you to get out of a home that is worth far less then what you owe on it.
Fill out our Las Vegas short sale form to see if we can help you move on in life and get rid of the ball and chain that's keeping you from moving forward in life.
Paul Francis
Prudential Americana Group, REALTORS
Las Vegas Short Sales
702.592.3058
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Many of the big cash to short sale incentives out there were because the mortgage originator created fraud in the first place and they want to get rid of these loans before they get sued.
Posted on Sunday, April 22nd, 2012 at 7:01 PM.