Another successful short sale - this one on Stratton Major in Centreville, VA. Our clients bought in 2006 for $642,000 and we sold it days ago for $450,000. We went back and forth quite a bit with the lender, Chase Mortgage, but they agreed to work with us and they granted our sellers a deficiency waiver on the unpaid balance. Below are pages of the approval letter:
Virginia (4)
Only if you want to pick the worst choice in a bad situation. With a foreclosure, your credit will be severely impacted, security clearances can be challenged, your ability to finance ANYTHING in the future will be challenged, and the debt owed will not go away. When you do a short sale in Virginia, or other states, you will most likely ALWAYS be in a better position.
You know you will love this:
http://www.huliq.com/3257/sweet-justice-main-street-homeowner-forecloses-bank-america
B of A foreclosed on a guy that paid CASH for his home......the guy TRIED to get it straight with B of A, they ignored him (can anyone here relate to being ignored by B of A)????
He took them to court, WON, was ignored AGAIN, and, foreclosed on the B of A branch......AWESOME!!!!!
This is what you are up against dealing with short sales.......I have a LONG list of homeonwers that are just LOVING this story.
Good stuff.
All my best to everyone handling short sales!!!!
Can not stress this enough.....EVERYTHING on a short sale is negotiable, including ANYTHING that comes over on an approval letter.....
If you or the Seller does not like wording, commission amounts, or short sale consequences, then ASK THEM TO CHANGE THE LETTER!!!!
Most will if you negotiate properly.
Now go kick some butts!!!
Ben Benita, Speaker, Author, Radio Guest
BBenita@Comcast.net
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