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 wanted 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
***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.
Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved
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.
Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.
Copyright © 2011 http://www.brokerbryant.com/ | All Rights Reserved
GOOD FOR YOU! Better still, good for him! That is great news. I truly think that if you are persistent and let the lender(s) know that you want the best for everyone, you can get past some of the red tape. Great ending.
Where's TLW
Great job, Bryant- that is what charm and personality will get you!
Congratulations Bryant! These hardship cases really get to me. Your seller was very lucky to have you in his corner. Jay
Congrats on the closing and may I commend you on your analyzing the situation and including your clients special needs to figure out a solution to keep this transaction out of the Equator system.
Excellent work.
It is great to hear that there are success stories out there!!
I have my fingers crossed on BoA AND Chase short sale settlements next week. Oh and through in a HAP settlement too. it could be quite a wild week!
BB, what a wonderful ending to a very difficult story. You are the one to go to in your area for short sales. No doubt in my mind at all.
Bryant , even a story as sad as this can have a silver lining...good of you to stick with it for all the right reasons.
Bryant,
You're awesome.
It's sad that someone can see their life turn upside down from illness and death of a loved one. Hope all turns out well for him.
BB,
Good for you for not going with the flow, for making a difference in the life of another who needed you help. My hats off to you on this one my friend!
Good for you! That probably was not fun or easy. But you were able to help somone who needed you and you looked at it from the perspective of the seller who really needed help. These cases are just simply terrible.
I just got one of three pending short sales closed this month!!! Took six months to do it. This one was especially meaningful because of the clients. They are good people who got caught up in hard times. Kudos to you for your tenacity and devotion to helping someone who really needs it. Your heart is in the right place and we all can use a helping hand and, I might add, a caring heart from time to time.
Well done Bryant. Impressive that you could bypass Equator. Sometimes companies just don't realize that not everyone is 'on-line' or even have the capability to be on-line.
What a great story. That's what it is all about helping people out of bad situations.
Bryant-
Amazing as always. Keep the good / success stories coming. It helps all of us who are in the trenches realize it can be done.
Bryant- Many congratulations! It has to make you feel good to of helped that gentleman. There is almost always a heart wrenching story behind these sales.
Congratulations on your closing. Do you think this one was faster than the average?
Nice story. Great job at bypassing the system...and for a good reason.
MIXED feelings on this one!!!!!!!!!!!!!!
Bryant- THis is one of those people who deserved to go on with his life. When you can negotiate to touch the heart of someone who can help, amazing things can be accomplished. Katerina
What was the appraisal? Did they also do 1 or more BPOs? How important do you think the cash was? Thanks for help, doing three right now.
Congrats on another successful short sale Bryant. Good to see it has been a busy Spring!