Obama Short Sale Plan

U.S. Department of the Treasury Secretary Geithner just announced new details on the expansion of the Making Home Affordable program to include short sales.  Under the plan, incentives would be provided for mortgage servicers and borrowers to pursue short sales. Financial incentives include $1,000 to servicers for a successful short sale, and borrowers may receive up to $1,500 to assist with relocation expenses.  Reasonable and customary real estate commissions and selling costs will be permitted and the servicer will agree not to negotiate a lower sales commission after an offer has been received. 

Just another option for investing in today's market.  Short sales can be just as good a deal as a foreclosed property.  Call me today with any questions on buying a short sale property!