New Federal Program will Encourage Short Sales in New Jersey

Beginning April 5, the administration will encourage delinquent borrowers to avoid foreclosure and instead give up their homes in short sales by streamlining the process.

The program will offer a cash payment to the home owner, as well as to the servicer and second-lien holder; and protect borrowers from future lender lawsuits for the unpaid mortgage balance.

To curtail fraud, lenders will have to consult real estate practitioners to assess home value and minimum acceptable offer; they then must accept any offer that is equal to or higher than that.

If you are having trouble making your mortgage payments, realize there are options to foreclosure.  Contact me today - don't get too far behind.  I can help sell your Mercer County home.

Joe Giancarli, Sales Associate
609-658-2612
jgiancarli@remax.net
http://www.joegiancarli.com/
http://newjerseynewhomes.blogspot.com/