If you qualify for this option, the process is similar to a normal real estate sales transaction. You will work with a real estate agent to market and sell your home. However, your mortgage company will also be working with you and your real estate agent every step of the way to:
Severance pay is a matter of agreement between an employer and an employee. The amount and type of compensation in an given severance agreement will vary according to specific circumstances, but the amount of severance pay is usually based on a number of factors, including:
A. If severance payments weren't specified in an earlier employment agreement, or in a collective bargaining agreement, and you weren't fired for cause, you may be able to improve the emaciated offer. Typical salaried (non-union) severance benefit is two weeks pay for each year of service -- up to a maximum of 26 weeks.Typical executive severance benefit is in the six to 12 months range. Because job losing is so frequent, I advise you to get educated on what may be available to you through negotiation and leverage.ypical salaried (non-union) severance benefit is two weeks pay for each year of service -- up to a maximum of 26 weeks.