Homeowners who are in over their heads but have been unsuccessful at getting a loan modification may get some different help from Uncle Sam — $1,500 to move if they sell for less than they paid for the house, reports the New York Times . Under the Obama Administration program, banks and second mortgage lenders would get $1,000 to process each of these so-called short sales.  Homeowners would get $1,500 in “relocation assistance.” Experts say it may be a better and faster way to get these properties moving than loan modifications, which lenders have been reluctant to do and which many homeowners can’t qualify for. The banks will probably get more for the property than in a foreclosure and homeowners, who are about to lose their house anyway, at least get some money to move. The $1,000 the second-mortgage holders would get isn’t much, but in a foreclosure they would probably get nothing. Read the full New York Times story HERE . Did you miss these recent stories on foreclosures: Govt. to pay homeowners $1,500 to move is a post from: Mortgage Insider

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