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Chase Bank Offering Cash Incentives To Sell As A Short Sale

Did you see the report on Tampa’s Fox News today?  One homeowner was offered 30K in cash to sell their home as a short sale.

If you received a letter from Chase Bank offering you an incentive to list your home as a short sale you will need a Certified Property Distressed Property Expert Agent.

Prudential Tropical Realty, has 15 offices in the Tampa Bay region, and has short sale certified Realtors who are experts in the short sale process. If you are looking to list your home for sale in Tampa, St. Petersburg or Clearwater, you may contact an agent here.

If you haven’t received a letter from Chase and you are behind on your mortgage payments, don’t throw away your mail! You may receive a cash incentive between 10-30K to avoid foreclosure and forgive the loss of the deficiency.

There are 3 steps to list your home as a short sale:

1. List your home with a Real Estate Agent who has the CDPE Certification

2. Put your home on the market for fair market value

3. Send your listing agreement from the brokerage firm to JP Morgan Chase.

Chase says “the incentive is for a fresh start”, however homeowners aren’t exactly walking away free and clear. They will be obligated to pay taxes on the money forgiven because it is considered income. A pretty sweet deal in my opinion!

Offering an incentive will speed up the process of getting short sales on the market and help avoid foreclosure.

My question is….Why aren’t other banks stepping up to the plate?

If you are considering a short sale, or if you want to know if you qualify for a short sale, you may want to read 4 Questions To Ask When Contemplating a Short Sale and Tips for Selling Your Home as A Short Sale-Tampa, Fl

Prudential Tropical Realty is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.


Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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