2 Short Sales Approved this week. January 18th VHDA & Seterus / First Horizon Metlife

We just got two more short sales approved this week.  Full Deficiency waivers for our sellers!

More details coming soon.

1 with VHDA

1 with Seterus & First Horizon/Metlife/First Tennesse

VHDA Short Sale Approval Cheshire Ridge Cir Townes at Compton Farm Manassas, VA

9786 Cheshire Ridge Cir, Manassas, VA 20110 - 4bd/3ba Townhome. $235,000
VHDA Loan

We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank.

We just got this short sale approved in 42 days from contract!! The seller was forgiven over 100k
http://www.my1245shortsale.com/

Quick Facts

Hardship: Upside Down on the mortgage and going through a divorce

List Date: 11/08/2011
Contract Date: 11/28/2011
Approval Date: 1/09/2012
Close Date: 2/13/2012

Result: Full deficiency waiver for our seller.

VHDA is different than most banks.  They are not reimbursed from the government after completing the short sale. They take the entire hit themselves. Because of this they fight a little bit harder on the short sale.  You have to have a good hardship, otherwise they will want more money from you.  In this case the sellers were going through a divorce and kids were involved.  They granted our sellers full deficiency waiver. They only had to bring to closing $5,000 cash contribution to be forgiven over $100k.  They did elect however to do a promissory note for $5,000 because they did not have cash on hand.

If you have any questions concerning VHDA Short Sales Contact Us. We have a proven record with VHDA Mortgage  (Preforeclosure) Short Sales. We can help you with VHDA Short Sale in Virginia & Maryland.

See the Approval Letter Here




Do I have to pay the difference if I do a short sale?

Today we’re going to address delinquencies and a inquiry that we get quite a bit from our clients. The question is “Do I have to pay the difference between what my house sells for and the amount I owe on the home after I do a short sale?” The simple answer is, in most cases, no you don’t; however, it’s generally not that cut and dry.

There are a couple of various situations in which you may be responsible for the difference, such as having a home equity line of credit. Some loans, such as construction loans and lot loans, require the homeowner to pay the difference back.

If you’re not sure and want more information, by speaking to us and allowing us to ask you a few questions we can determine whether or not your loan is one that would fall under the deficiency rights or non-deficiency rights. There’s a very good chance that we will be able to negotiate with your lender so that you will not owe any of the money back to the lender.

Many agents out there, even though you are not liable for the deficiency, will create one for you because of their inexperience. Avoid letting an inexperienced agent practice a short sale on your property and get in touch with us, the 12:45 Team, one of the most experienced short sale businesses in the area. We have a 100% success rate when it comes to short sales, which is something no one else in the industry can say.

If you have any questions or want more information regarding short sales, please give us a call and allow to help you. We’ll always provide you with the finest customer service and the most up to date information with regards to short sales in the Northern Virginia/MD area.

Citi Bank Mortgage & Greentree Short Sale Approval Letter- Gates of Fair Lakes, Fairfax, VA

12904 Fair Briar Lane, Fairfax, VA 22033 -  Citi Bank Mortgage & Greentree Short Sale Approval Letter- Gates of Fair Lakes, Fairfax, VA
We are now 28 for 28 in successfully completing short sales for our seller.

We just got this short sale approved in 45 days from contract!! The seller was forgiven over 100k
http://www.my1245shortsale.com/

Quick Facts

Hardship:  Upside Down on the mortgage, outgrew the condo

List Date: 7/21/2011
Contract Date: 9/16/2011
Approval Date: 10/31/2011
Close Date: 12/14/2011

Result:  Full deficiency waiver for our seller.

The seller is a friend of mine and I highly recommended him doing a short sale.  After he bought the condo, he got married and had 2 kids.  The place was too small and it was drastically upside down. Citi Bank Mortgage gave us the approval letter within 2 weeks but we had to wait for Greentree to go through their steps.  45 days later we got approval from Greentree and we were ready to close until the buyer screwed us over and bailed on the day of closing with no good reason. We quickly found another cash buyer and pulled out some tricks with Greentree to get them to extend our short sale approval. They wanted to start everything over and that would have taken another 30-45 days and by then the first loan Citi was going to be selling their loan to another company. It was a mess!  But it worked out and 13 days after we were supposed to close with our first buyer, we closed with our second buyer.

If you have any questions concerning Citi Bank Mortgage or Greentree Short Sales Contact Us. We have a proven record with Citi Bank Mortgage or Greentree (Preforeclosure) Short Sales. We can help you with Citi Bank Mortgage or Greentree Short Sale in Virginia & Maryland.