Hardship: Financial and medical.

The Seller is in his 80s and had never made a late payment on anything his
entire life until he missed 3 payments on this property. He had lived
here for almost 20 years. The property was refinanced to help pay the
medical expenses of his terminally ill wife who recently passed away.

1st Lien with Bank of America for $179,000. No other liens.

Property was listed on 12/05/2009 at $95,000. It was slowly reduced and on 1/18/2010 went pending for $75,000 all cash.


The challenge: I needed to avoid going through the Equator system due to the sellers age and the fact that he
was confined to an assisted living facility. I felt that the Equator
system would be confusing to him since he did not have access to email
or a computer. After a couple of days of
begging negotiating I was able to get the file directly into the hands
of a supervisor.

The complete file was submitted on 1/22/2010 and we had written approval on 3/11/2010. That was 48 days after submission.
Closing was today 4/22/2010. Or 138 days from listing to closing.
Bank of America accepted $68,700 or 38%
of what was owed.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com