We are now 29 for 29 in successfully completing short sales for our sellers.
We just got this short sale approved!! The seller was forgiven over 100k
http://www.my1245shortsale.com/
Quick Facts
Hardship: Upside Down on the mortgage, Home is to small
List Date: 7/08/2011
Contract Date: 7/28/2011
Approval Date: 11/02/2011
Close Date: 11/10/2011
Result: Full deficiency waiver for our seller.
BOA short sale. Bank of America caused a few issues on this but actually it was the Mortgage Insurance company on the 2nd loan that was the issue. So this took a little bit longer than normal. Basically if one of the loans has mortgage insurance, it can be tricky. They have to approve the short sale also and they dont care if it goes to foreclosure because they have to pay the same amount in claims in a short sale or foreclosure. So they sometimes make unreasonable requests. After fighting them for a couple weeks we came to terms on a small promissory note. Intially they wanted over $7,500 in cash contribution to go along with the promissory note, but we got them to waive that. The sellers were in fact forgiven over 100k in deficiency. So we were pretty excited about this accomplishment.
If you have any questions concerning BOA Bank of America Short Sales Contact Us. We have a proven record with BOA Bank of America (Preforeclosure) Short Sales. We can help you with BOA Bank of America Short Sale in Virginia & Maryland.
