California Short Sale or Deed in Lieu homeowners, did you know?
Distressed California Homeowners May Qualify for California’s Keep Your Home California Transition Assistance Program (TAP)
If your financially distressed California clients can no longer afford their homes and are pursuing a short sale or a deed in lieu of foreclosure, they may be eligible for financial help with their relocation to alternative housing.
The funds come from the Transition Assistance Program (TAP), part of the Keep Your Home California Program.
The state of California is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes. You can help by advising your distressed clients that they must:
- Apply for the funds through their state’s website or by calling 1.888.954.5337.
- Maintain their property until their house is sold or returned to the lender via a negotiated deed in lieu of foreclosure.
For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program.
To learn more about the Transition Assistance Program’s guidelines, and how your clients may qualify, please visit that program’s website at http://keepyourhomecalifornia.org. You can also direct your clients to call 1.888.954.5337 and identify themselves as Bank of America customers.
If you are local to the San Luis Obispo or North Santa Barbara Real Estate Markets and are thinking about a short sale or deed in lieu please reach out to me to talk things over. I have experience in short sales with Bank Of America, Citi Mortgage, Chase Mortgage, Nationstar, SolutionStar, One West Bank, Ocwen, Wells Fargo, Rabobank, and even a reverse mortgage short sale. Those are the top lenders who come to mind, however, I understand a lot of Home Owners may have had a change in lender servicer, the loan was purchased by a hedge fund, or transferred to Freddie or Fannie, and we can also work with them. To be able to help talk with your lender or lenders I will need you to complete a 3rd party authorization. Note some lenders will require a specific form however most will allow us to use the attached form in my dropbox account.
This is currently for the State of California; my service area covers San Luis Obispo County and North Santa Barbara County. If you would like to call our office number is 805-481-3939, or you can send me an email to [email protected]. This information was provided by Bank of America short sale update.
I find a lot of my clients have a general idea of what the value of their home is worth. If you are on the border of being a short sale or not and need to obtain the value of your home please email me or go to www.FreeHouseQuotes.com. Please note I can only provide valuation requests within my service area, if you would like to know if I have a professional reference/ referral partner in your service area please send me an email with the address in question and the best method I can have someone reach you.
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Driven to help you succeed
James Outlan Jr