Which short selling banks are giving how much money to whom ?
SELLER INCENTIVE PROGRAMS from Short Selling Banks
This is a smart move as sellers that realize the need to short sell often cannot afford to move as it is expensive and many are worried about even finding a place with their reduced credit rating. Shame it took the banks 3 years to come up with this strategy ! This cash for keys prevents vandalizing of property, hauling off the appliances and generally preserves the property.
HAFA – $3,000
Bank of America – $2,500 – $5,000
Wachovia – $3,000 – $5,000
Litton – $3,000 – $5,000
Citi – up to $35,000
Chase – $20,000 to $35,000 (may be combined with $3,000 HAFA incentive)
(TAP) Transition Assistance Program (Keep your Home California program) – up to $5,000 max. (most big banks not participating)