The Obama Administration recently announced incentives for borrowers and servicers for borrowers who are unable to modify their loan under the governments Home Affordable Modification program. The new incentives include:

*$1,000 for servicers for successful completion of a short sale or deed-in-lieu of foreclosure

*$1,500 for borrowers/homeowners to help with relocation expenses

*up to $1,000 toward the cost of paying junior lien holders to release their liens (one dollar from the government   for every $2 paid by the investors to the second lien holders).

For more information click here

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