Moving After a Short Sale in New York: How a Relocation Grant Helps You Start Over
When a short sale is approved, most homeowners feel two things at once: relief that the foreclosure is behind them, and worry about how they’ll afford to move. Movers, a security deposit and the first month’s rent can add up fast, often at a time when savings are gone.
That is exactly why Abraxas Foundation created the Short Sale Relocation Grant for New York homeowners. Here’s how moving after a short sale works, and how the grant can help you start over.
Why moving after a short sale is so hard
- Closing dates can come quickly once the bank approves the sale.
- Months of missed payments often leave little cash for a deposit.
- Landlords may ask for more upfront when your credit has taken a hit.
- Families may need storage or a short-term place to stay between homes.
What the Short Sale Relocation Grant is
The grant is financial help from Abraxas Foundation, a nonprofit, to cover some of the cost of moving and getting settled. It is not a loan, and you do not pay it back. It can help with:
- Movers or a moving truck
- A security deposit or first month’s rent
- Short-term storage
- Utility connection fees at your new home
- Temporary housing while you find a new place
Who is eligible
You are eligible to apply if you own a home in New York State that is in pre-foreclosure and you are in Abraxas Foundation’s short sale program. Everyone who goes through a short sale with our program is eligible to apply. You can apply while the short sale is still in progress.
Note that the grant is only available when Abraxas Foundation is handling your short sale directly with the bank.
A moving checklist for after a short sale
- As soon as you start the short sale: apply for the relocation grant and begin looking at rentals in your price range.
- When the bank approves the sale: confirm your closing date and book movers or a truck.
- Two to three weeks before closing: schedule utility shut-off at the old home and hookups at the new one. Forward your mail.
- The week of closing: pack essentials and important papers separately, and take photos of the home’s condition.
- After you move: keep copies of all short sale and closing documents for your records and for tax time.
Starting over with your credit
A short sale still affects your credit, but many homeowners find it easier to recover from than a completed foreclosure. Paying current bills on time, keeping card balances low and checking your credit reports for errors are good first steps. Learn more in Short Sale vs. Foreclosure in New York.
Get free help from Abraxas Foundation
Abraxas Foundation is a New York nonprofit. Our help is free from start to finish, with no fees to homeowners. We meet homeowners at their homes, explain every option in plain language, and refer you to free legal assistance when you need it.
If a short sale is the right path, our short sale program works directly with your bank. And everyone in our short sale program is eligible to apply for our Short Sale Relocation Grant, financial help with moving costs that you never pay back.
Call (929) 346-5734 or contact us online for a free, confidential consultation.
Helpful official resources: NY Courts CourtHelp: Foreclosure and NY DFS Foreclosure Consumer Bill of Rights.
Abraxas Foundation Inc is a nonprofit organization. We are not a lender, real estate broker, home buyer or law firm, and this article is general information, not legal or tax advice. Relocation grants depend on eligibility and available funding, and applying does not guarantee approval.
