Are you about to complete a short sale with your Tucson real estate agent and are wondering if there are any incentive or tax relief programs available to you? Well, you’re in luck because Tucson real estate agents say that right now is one of the best times to complete a short sale simply because of the number of incentive programs available to sellers.
One Tucson real estate agent says that many lenders, especially the bigger ones such as Chase, Wells Fargo and Bank of America, are offering cash at closing to their homeowners that complete a short sale. In fact, Tucson real estate agents are reporting that their homeowners are receiving up to $30,000 in cash depending on the selling price of their home. Along with lenders offering incentives there are also some investors, such as FHA and VA that are offering money to their customers. Another government incentive program available is HAFA which also provides a certain amount of money at closing. Tucson real estate agents also want you to know that it is entirely possible to collect incentives from multiple parties at the closing of your short sale.
Not only are there cash incentives there’s also a tax relief program available to many homeowners that complete their short sales before the end of the year. The Mortgage Forgiveness Debt Relief Act allows homeowners that complete a short sale on their primary residence to be exempt from paying taxes on the forgiven amount. This is another great money saving program that many short sale customers are taking advantage of.
TO make the most of your short sale experience and to earn money to help you get back on your feet Tucson real estate agents want you to know that now is the time to complete a short sale. Reach out to a Tucson real estate agent today to take advantage of these great incentive and tax relief programs.