Tenants Get $3,000 in Short Sale Relocation Assistance

A tenant who occupies the property as a principal residence and is required to vacate as a condition of a HAFA short sale being done by the seller of the property may receive $3,000 for relocation expenses. Check with your lender and hire a Short Sale Specialist who knows the programs. (Non Fannie, Freddie, FHA, VA loans)

Source: https://www.hmpadmin.com/portal/programs/index.jsp

http://programsfr.com

 

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2 thoughts on “Tenants Get $3,000 in Short Sale Relocation Assistance

  1. It depends on your situation and the type of short sale the seller did. The government incentives under a HAFA short sale may be $3,000 for relocation expenses for borrower, tenant or non-borrower occupant who occupies property as principal residence and is required to vacate as a condition of the HAFA short sale. $3,000 is the total incentive no matter how many occupants. (Source: https://www.hmpadmin.com/portal/programs/guidance.jsp) If it was not a HAFA short sale this would not restrict the seller’s agent or attorney to try to negotiate from the lender some relocation assistance for the tenant.
    I cannot give you any legal advice. You may want to visit your local legal aid office as soon as possible to determine what rights and/or remedies you may have.
    Following are some questions that might help when you talk to a legal aid counselor or attorney.
    Did you occupy the property as your primary residence? Did the seller occupy the property as his primary residence? Tenant/Landlord laws vary in different states. Did you live in the property for more than 1 year? Did you have a signed lease that does not expire or terminate until a later date? You may have rights under that lease. Were you given proper notice to vacate? You may have rights depending how long you lived in the property and if you were given proper notice. Do you have a security deposit that you may be entitled to upon vacating?
    Additionally, in California certain short sale programs only qualify if the borrower owns and occupies the property as their primary residence (not a rental) and the property is a single family, 1-4 unit home (or condo).
    For additional information please refer to the following sites:

    U.S. Department of Housing and Urban Development
    HUD Approved Housing Counseling Agencies
    http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm

    Making Home Affordable – An official program of the Departments of the Treasury & Housing and Urban Development
    http://www.makinghomeaffordable.gov/programs/exit-gracefully/pages/hafa.aspx

    HUD-approved housing counselor hotline: 1 (888) 995-4673

    DISCLAIMER: Brokers, its agents and employees are not engaged in rendering legal, accounting, financial, or tax advice. If financial, legal or tax advice is needed then the reader is advised to seek advice from a qualified attorney, certified public accountant or other expert regarding such matters.

  2. November 12, 2012
    I am a tenant in a house in which the owner agreed to do a “Short Sale”. The owner was given $5000 relocation assistance – and I asked him to inquire of the realtor if I would be able to get relocation assistance as well, the realtor said “No.” I am 61 years old, recently widowed, unemployed, with no money whatsoever. The owner gave me $300 just yesterday afternoon to use to rent a storage unit so I could move my belongings there in order to get them out the the house. I have less than $100 left to survive on! I am going to be reduced to living in my car; and I’m not kidding – at age 61; and I’m very frightened. I have sent my resume to about 50 places, and have received one interview out of them all; I’ll know next week if I get the job. Once I leave the house, I’ll lose Internet access with which to find a job and receive responses – so my ability to make forward progress will be gone. I am going to pay my cell phone bill of $50 with half of the hundred I have left, and will use the balance for gas for my car – but for how long? I had a realtor other than the one the owner of the house used, about relocation assistance for tenants, and he said the same thing your article here says – he said when he handles a “Short Sale”, he always sees to it that everyone; including the tenants, get relocation assistance. He said it is reprehensible, the way I’m being treated in my situation; particularly considering my age and personal lack of income. The quickness with which we had to vacate was another compelling problem because the 30 days that was abruptly altered to 10 disallowed me adequate time to do anything in the way of finding new housing or any kind of assistance to do so. Once my belongings are out of the house, I will have no leverage whatsoever to compel the Management Group who bought the house to give me any assistance; so would it be wise to file an action against them; considering the statement above that tenants are, indeed, supposed to be given relocation assistance? I am overwhelmed, alone, and not certain where to turn. Any input as to the right direction I should take would be sincerely appreciated.

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