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.
New Bank of America Short Sale Approval Letter: Homeowner in Vancouver, WA, Receives $276,000 Loan Discount, Deficiency Waived!
Seattle Short Sales - Wednesday, December 19, 2012
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
military Fannie Mae debt forgiveness credit score Homeowner's Assistance Program suntrust Nationstar Chase short sale Cenlar Freddie Mac NAR Bank of America rental home home prices Wells Fargo Gold Bar FHA Lynnwood US Bank insolvency Forbearance HSBC investment home GMAC irs VA Government tenants Washington Mortgage Fraud Bellevue Boomerang Buyer BECU seattle Bill 6337 Loan Modification Litton mortgage Bill 2718 Bankruptcy Foreclosure Statistics negative equity how to Servicemembers Civil Relief Act relocation assistance agents tax rental properties Department of Defense HAFA condo associations LBPS deficiency Wachovia reverse mortgages PMI Renton dual-tracking cash incentives income tax FHA, Fannie Mae, Freddie Mac Kent Vancouver servicemembers debt settlement foreclosure liens Ford Foundation Citi Mortgage SCRA Lake Stevens info Ocwen Foreclosure Fairness Act HAP HAMP statistics Seterus
- 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