They wanted to sell, but they owed over $222,000 on their NationStar mortgage, and their home was valued at only $142,450.
NationStar has just issued their approval letter for the short sale, accepting $123,000 net proceeds on the $222,000 mortgage balance owing - a discount of $99,000. The short sale approval letter waived the Gold Bar homeowners of ever having to repay that deficiency.
You can read the NationStar short sale approval letter here:
7.9.12 - NationStar - 1st Lien - 99k Deficiency - Debt Settled - Short Sale Approval
If you are a homeowner, and would like to learn more about short selling your home, please go to: http://seattleshortsales.com/homeowners/
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