Short Sale Closed With Bank of America, Wells Fargo in Naugatuck

I received a call from this client after 2 other agents had unsuccessfully attempted to short sell his Naugatuck home. Once we sat down and analyzed his situation, we listed the property and located a cash buyer in a 30 days. Both BOA and Wells Fargo approved the short sale with a full waiver of deficiency.

Here are the details:

Sale price: $91,000

Amount owed to 1st mortgage with BOA - $160,000

Amount owed 2 HELOC with Wells Fargo - $25,000

Closing costs allowed - $8,000

Net to BOA - $83,000

Net to Wells Fargo - $1,500

Total debt forgiven with no deficiency - $100,500

Time frame list to close : 6 months

Patrick

Why settle for less than 5 stars?

Featured in Connecticut Magazine's March 2011 and March 2012 issues as a top  real estate agent in overall satisfaction. Contact me for more information about attempting a short sale in Connecticut.