This Vancouver, WA, homeowner avoided foreclosure through a short sale. He owed over $612,000 on his Bank of America mortgage, but his home was valued at only $405,000.
Bank of America has just issued their approval letter for the short sale, accepting $361,399 net proceeds on the $612,000 principal balance owing (not including arrears) - for a total discount of $276,000. The short sale approval letter waived the Vancouver homeowner of ever having to repay that deficiency.
You can read the Bank of America short sale approval letter here: 11.30.12_Bank_of_America_1st_Lien_276k_Deficiency_Debt_Settled_Short_Sale_Approval.pdf
If you are a homeowner, and would like to learn more about short selling your home, please go to: http://seattleshortsales.com/homeowners/
Unrivaled Results: 1,604 Approvals | $156,545,635 in Debt Settled
| Home | Education  | Brokers | Proof of Results | Services | About Us | Contact |
| Broker Registration |
| Broker Login |
| Advanced Short Sale Training |
| Lender Contact Info |
| Homeowner - Quick Response Form |
| Feedback Form |
| Seattle Short Sale Blog |
| What Are The Benefits of Doing a Short Sale? |
| Foreclosure vs. Short Sale: Which Is Better? |
| How Long Does The Short Sale Process Take? |
| Should I Stop Making My Mortgage Payments? |
| What Are The Military Short Sale Programs? |
| Can I Rent My House During the Short Sale Process? |
| What Are The Four Steps in the Short Sale Process? |
| How to Stop Your Lender From Calling and Harassing You |
| Is Washington a Recourse or Non-Recourse State? |
| How To Use the Foreclosure Fairness Act to Settle Your Mortgage Debt |
| Do I Need A Real Estate Broker Who Is Familiar With My Local Market? |
| Case Studies |
| Short Sale Approval Letters |
| Testimonial Letters |
| Who We Are |
| Partners |
Call for Help Now:
1-800-603-3525
- Ten Frequently Used Short Sale Terms: A Guide 15-Oct-2014
- Millions of HELOCs To Reset: Are Borrowers Prepared? 25-Sep-2014
- Foreclosure Alternatives: Home Retention, Home Forfeiture and Bankruptcy. Everything You Need to Know! 19-Mar-2014
- Recent HAFA Changes Bring it and Freddie Mac's "Standard Short Sale" Programs Closer 17-Mar-2014
- Negotiating it Right: Three Years Later, One Third of HAMP Loan-Mods are Redefaulting 15-Mar-2014
Short Sale Blog
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.
1
Recent Posts
- Ten Frequently Used Short Sale Terms: A Guide
- Millions of HELOCs To Reset: Are Borrowers Prepared?
- Foreclosure Alternatives: Home Retention, Home Forfeiture and Bankruptcy. Everything You Need to Know!
- Recent HAFA Changes Bring it and Freddie Mac's "Standard Short Sale" Programs Closer
- Negotiating it Right: Three Years Later, One Third of HAMP Loan-Mods are Redefaulting
- Debt Settlement Part 2: Two Real-Life Examples of Creditors Accepting Much Less Than The Total Balance Owing
- Stats for Seattle Area Not Good: Percentage of Homes Underwater and Delinquency Rates Both Higher Than National Averages
- New Revised Guidelines for Washington’s Foreclosure Fairness Program
- Debt Settlement Part 1: The Difference Between Debt Settlement and Debt Consolidation
- How Does a Short Sale or a Foreclosure Affect My Credit Score?
Tags / Lenders
credit score liens Foreclosure Fairness Act info how to foreclosure Chase Bankruptcy irs FHA HAFA Freddie Mac Lynnwood Wachovia negative equity short sale NAR Wells Fargo Vancouver Ocwen Servicemembers Civil Relief Act deficiency Lake Stevens Government dual-tracking Bank of America Kent rental home HAP statistics condo associations reverse mortgages home prices Mortgage Fraud LBPS servicemembers seattle cash incentives Bill 2718 HSBC Washington debt forgiveness Gold Bar Foreclosure Statistics mortgage suntrust Citi Mortgage Nationstar Seterus Bill 6337 Boomerang Buyer Bellevue Loan Modification Cenlar agents US Bank insolvency Homeowner's Assistance Program relocation assistance Department of Defense rental properties FHA, Fannie Mae, Freddie Mac Renton income tax BECU Ford Foundation VA Forbearance investment home PMI tax debt settlement tenants military Litton HAMP SCRA GMAC Fannie Mae
- agents (1)
- Bank of America (10)
- Bankruptcy (3)
- BECU (2)
- Bellevue (2)
- Bill 2718 (1)
- Bill 6337 (1)
- Boomerang Buyer (1)
- cash incentives (1)
- Cenlar (1)
- Chase (7)
- Citi Mortgage (4)
- condo associations (1)
- credit score (4)
- debt forgiveness (6)
- debt settlement (7)
- deficiency (15)
- Department of Defense (1)
- dual-tracking (1)
- Fannie Mae (4)
- FHA (2)
- FHA, Fannie Mae, Freddie Mac (8)
- Forbearance (2)
- Ford Foundation (1)
- foreclosure (42)
- Foreclosure Fairness Act (4)
- Foreclosure Statistics (39)
- Freddie Mac (3)
- GMAC (2)
- Gold Bar (1)
- Government (19)
- HAFA (7)
- HAMP (6)
- HAP (1)
- home prices (15)
- Homeowner's Assistance Program (2)
- how to (2)
- HSBC (1)
- income tax (2)
- info (4)
- insolvency (4)
- investment home (1)
- irs (4)
- Kent (1)
- Lake Stevens (1)
- LBPS (1)
- liens (2)
- Litton (1)
- Loan Modification (21)
- Lynnwood (1)
- military (2)
- mortgage (8)
- Mortgage Fraud (3)
- NAR (2)
- Nationstar (1)
- negative equity (4)
- Ocwen (1)
- PMI (1)
- relocation assistance (1)
- rental home (3)
- rental properties (4)
- Renton (1)
- reverse mortgages (1)
- SCRA (2)
- seattle (26)
- servicemembers (2)
- Servicemembers Civil Relief Act (2)
- Seterus (3)
- short sale (64)
- statistics (1)
- suntrust (1)
- tax (3)
- tenants (2)
- US Bank (1)
- VA (3)
- Vancouver (1)
- Wachovia (1)
- Washington (6)
- Wells Fargo (8)
Archive
Comments