Condo investment property, 4 members of LLC as owners
2 mortgages, both with BofA
First Mortgage balance $484,000
Second Mortgage balance $60,000
Sales Price: $240,000
Approved closing costs $30,730
First mortgage payoff: $209270
Second mortgage payoff: $3000
Closing costs included $3099.51 for past HOA fees and $2700 for 2010 taxes
Contract submitted on Equator 8/18/10
Approval letter recieved on 9/29/10
Tags:
Wow! There is hope...
You didn't mention, but I assume you got release from liability for deficiency?
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