If the media hasn’t grabbed your attention lately to short sale your home, how about another instance to lure you to take action?  The Arizona Department of Housing is offering homeowners $4,500 and to pay their 3 percent closing costs if they work with their lender to complete a short sale on their property.

This is a very valiant effort by the state’s housing administration to continue to jump start the housing economy even further.  Their initial efforts were in principal reductions, but unfortunately, the amount of those that are successful are slim to none.  Their next effort is in short sale incentives, and many homeowners in Arizona will be able to qualify for this program, because lenders are willing to approve short sales, as opposed to loan modifications.  The agency will start taking applications today for this program, and you can apply at  housingaz.com.

Keep in mind, lenders will need to approve the short sales, this isn’t a submit an offer and get automatically get approved scenario.  When your lender does approve an offer submitted by a qualified buyer, this incentive from the Arizona Department of Housing will be issued to qualified applicants in the program.  This is why it is vital for homeowners to submit an application immediately with the state, as well as get any and all paperwork ready for their lender.

Short selling requires a little bit of patience, but now it requires a sense of urgency.  Incentives are there for those that want them.  Most lenders are offering cash incentives, and now, Arizona, so is your state!  The money the state is offering homeowners is approved by the U.S. Treasury.

How many more life rafts can be thrown your way?  The summer might be over, the temperatures may be cooling down, but the short sale water is still warm, jump on in!

Read more: http://www.azcentral.com/arizonarepublic/business/articles/2011/09/20/20110920reagor-agency-encourages-short-sales-offering-money.html#ixzz1YdNFvAhd