Program to Offer Incentives for Short Sale Homes

A new effort that hopes to speed up the process of selling your home if it's worth more than you owe is underway.

The Obama Administration's program will give $3,000 for moving expenses to homeowners who complete a short sale or agree to turn over the deed of their property to the lender.

Under the Home Affordable Foreclosure Alternatives program, borrowers will get the relocation incentive.  Servicers, investors and second lien holders will also get incentives as well. 

Once homeowners come to their lenders with bonafide offers, they'll have to be accepted within 10 days. 


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