Tag Archives: Banks Pilot Cash Incentive Programs for Short Sales

Several real estate professionals say cash-back incentives that some lenders are using to tempt delinquent borrowers to do a short sale over a foreclosure are not very effective because it’s not clear on who qualifies for the program. Some banks are trying out such short-sale incentive programs because “it’s costing banks a fortune to do the foreclosure, and they want to cut their losses,” says Sherry Lee, broker/owner of Lee Property Sales in West Palm Beach, Fla. Florida, which has a high number of foreclosures, was selected by Bank of […]