Is the 1500 dollars relocation money just a scam to get you to sign up for modification?

Asked by Celia, Sarasota County, FL Wed Apr 14, 2010

If you would get 1500 dollars relocation money because you are having a shortsale, would the banks
rather say " Then take that 1500 dollars and just modify your mortgage and make your first month
payment with it". Would that be option number one. if you say "no" to that, the bank will look further
deep down to see if you have any assets and will not approve that shortsale.
Or why are they denying relocation money after they promised it?
By the way, i cannot modify because i have no income.
What is that 1500 dollars for? BS right?

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Emelia Sanch…, , Ontario, CA
Wed Apr 14, 2010
It is $3000.00 assistance for relocation under the new HAFA. You must qualify for it and not everybody will (FHA, VA, Fannie and Freddie are not participants) this is not mandatory so the banks do not have to participate.
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