Would you leave your Miami Beach homes if you were struggling with the mortgage and someone paid you to part with it?  That’s what the Obama administration is considering doing.  Not only would homeowners be allowed a short sale, they’d receive a monetary consolation prize of sorts to send them on their way.

Despite the government’s best efforts, its multibillion dollar mortgage modification program clearly has not reached its full projected potential, only assisting a small number of people in keeping their properties like Miami Beach homes.  Could this new strategy launching on the fifth of next month be the catalyst that will see the program work effectively?

The program is designed so that owners of properties such as Miami Beach homes will be left with about $1,500 in funds to use towards “relocation assistance”.  Whether or not that amount seems worth parting with a property will be up to the homeowner but it could potentially boost short sales and prevent yet another wave of foreclosures.