Denver Condos and Townhomes

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Denver Short Sales: Major Lenders Offering Perks on Short Sales

Our team deals with Denver short sales and foreclosures every single day. Listing a short sales brings with it a myriad of bank policies, procedures and paperwork. We've gone out of our way to streamline this process for our sellers and make it as painless as possible. It appears that many of the banks continue to attempt to improve their process as well.

An article this morning from DSNews.com highlights a few of the programs we've been made aware of from the banks. It's an interesting read and while many of these changes should have been made several years ago, it's nice to see the banks changing:

From DSNews.com:

JPMorgan Chase is also offering a range of incentives to borrowers that agree to a pre-foreclosure sale “because if we can’t work out a modification, a short sale is a better result for the borrower, the servicer, the investor, and the neighborhood than a foreclosure,” the company said in a statement.

Chase says the amount of the offer “depends on a number of factors” but declined to share specific details on how much money it’s been providing to short sellers.

One agent in Florida confirms that he has indeed received a letter from Chase offering $20,000 to a borrower he’s representing in a short sale transaction.

Another agent in California says he closed a short sale with Chase where the borrower was paid $30,000 at closing for cooperating with the short sale.

The article goes on to outline several of the banks and their new policies on short sales.

If you are interested in talking about Denver short sales, or need more information on potentially listing your home as a short sale, give our team a call at 303-726-1874. We're experts in the area and have an entire team dedicated to making the process easy.

 

 

 

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0 commentsBrian Petrelli • December 28 2011 01:05PM
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