Janie Howard
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Short sale using fire insurance proceeds?

Posted on July 3, 2012 at 7:55am 0 Comments

I've been working a short sale since Jan with a first (GMAC) and a second (Chase) which was set to close last Weds.  But Tues the home burned down in the Colorado Springs firestorm. The purchase price we had was $265,000 with the first getting $233k and the second getting $5k - all approved and ready to go. FC sale date is 9/26. My question is has anyone ever had a successful short sale using insurance proceeds to short the lenders? The proceeds at $277k are more than the purchase price we…


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At 7:18am on December 12, 2011, Cody Lampariello said…

Hi Janie, I'll do my best. What is the offer you are working with?



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