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Here is the latest short sale news at Seattle Short Sales. We assist hundreds of Seattle area homeowners with short selling their home and avoiding foreclosure.

New Ocwen Short Sale Approval Letter: Homeowners in Seattle, WA, Receive $343,000 Loan Discount, Deficiency Waived!

- Sunday, July 22, 2012
This Seattle, WA, homeowner and business owner earned high income from various business interests - up until 2007. The economic downturn caused him to lose his contracts. In the following years, he and his wife incurred $100,000 in other debts while trying to service their mortgage - but their business was not turning around.

By 2012, they owed $975,000 on their Ocwen mortgage. But their home was valued at only $700,000. They avoided foreclosure through a short sale.

Ocwen has just issued their approval letter for the short sale, accepting $632,000 net proceeds on the $975,000 mortgage balance owing - a discount of $343,000. Furthermore, Ocwen’s short sale approval letter waived these Seattle homeowners of ever having to repay that deficiency. They can move into their retirement years free of mortgage debt.

You can read the Ocwen short sale approval letter here: 6.28.12_Ocwen_1st_Lien_343k_Deficiency_Debt_Settled_Short_Sale_Approval.pdf

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