Yes. Many lenders (not all) will pay you, as the homeowner to cooperate in the short sale of your property. This is referred to by the lenders as “relocation assistance”. This assistance is based on a number of factors, including the loan balance, current value of the property and the loss severity rate. At least one major lender has recently increased their limit on relocation assistance payments to a whopping $45,000!
For more on this topic, visit www.FloridaBrokers.com or email us at smith@realtor.com.