For Sale FAQ's visit
http://www.my1245shortsale.com/
Quick Facts
Hardship: To Much Debt, Upside Down on the mortgage
Days for Approval: 120 days to get the approval and we closed within 30 days.
Amount Forgiven: Over $100,000 and the seller does not have to pay the bank back!
The sellers decided to sign a small promissory note with Acacia instead of paying a cash contribution because money was tight. This is interest free and they have 10 years to pay it off.
Here's the Acacia and Wells Fargo short sale approval letter. The banks states "The preforclosure sale may have an impact on your income taxes. You should consult with your tax preparation professional. Additionally this transaction will be reported to the credit bureau as 'Settled in full for less than total payoff.'" According to the tax attorney, this is a good letter. Since this was her primary residence, she will not have to pay taxes on the forgiven amount.
If you have any questions concerning Acacia and Wells Fargo Short Sales Contact Us. We have a proven record with Acacia and Wells Fargo (Preforeclosure) Short Sales. We can help you with Acacia and Wells Fargo Short Sales in Virginia & Maryland.
Click Here for Acacia Approval Letter
Click Here for the rest of Wells Fargo Approval Letter
