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Citi Mortgage Short Sale. Listed, Sold and Closed in 35 days!!

Posted by Bryant Tutas on June 24, 2010 at 1:11pm

Property:

3 bedroom 2.5 bath townhouse in Kissimmee Florida.

Hardship:

Investor owned property. Loss of income. This is the 3rd Investor Short Sale we have completed for this Seller.

1st Mortgagewith Citi Mortgage for $92,000. Agreed to accept $54,442 or 60% of the balance owed.

No Seller contribution or promissory note. Citi Mortgage issues a waiver of deficiency. It doesn't get any better than this.

Citi Mortgage Waiver of Deficiency

This Kissimmee Short Sale transaction took 35 days from listing to closing!!!

Challenges:None. The property was placed on the market on May 18th. It went pending May 21st. The Kissimmee Short Sale was approved June 21st. We

closed June 23th.

Sometimes things just fall into place.

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

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

Another successful Bank of America Short Sale.

Posted by Bryant Tutas on May 1, 2010 at 8:54am

Hardship: Financial and medical.

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

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

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

The challenge: I needed to avoid goingthrough the Equator system due to the sellers age and the fact that hewas confined to an assisted living facility. I felt that the Equatorsystem would be confusing to him since he did not have access to emailor a computer. After a couple of days ofbegging negotiating I was able to get the file directly into the handsof a supervisor.

The complete file was submitted on 1/22/2010 and wehad 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