Seterus / First Tennessee / First Horizon / Metlife Short Sale Approval Letter
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 97 days from contract. The seller was forgiven over 75k
For Short Sale FAQ's visit:
http://www.my1245shortsale.com/
Quick Facts
Hardship: Upside Down on the mortgage, place was to small
List Date: 10/11/2011
Contract Date: 10/24/2011
Approval Date: 1/31/2012
Close Date: 2/24/2012
Result: Full deficiency waiver for our seller.
This was our first short sale where the 1st loan was not short, but the 2nd loan was. This means that the proceeds from the sale paid off the entire 1st loan. So we only had to negotiate with the 2nd loan. The 2nd loan actually got paid more than the typical 10% of the loan balance because there was so money left over after paying off the 1st loan. In the end our sellers only had to contribute $5,000 cash contribution to make $75,000 in mortgage lien be forgiven. Not a bad deal :) It took a little bit of back and forth with the 2nd loan until we came to these numbers but everyone was happy.
If you would like for us to refer you to a tax professional with short sale experience, conact us at Nate@1245team.com
If you have any questions concerning Seterus / First Tennessee / First Horizon Short Sales Contact Us. We have a proven record with Seterus / First Tennessee / First Horizon (Preforeclosure) Short Sales. We can help you with Seterus / First Tennessee / First Horizon Short Sale in Virginia & Maryland.
See the Approval letter here
