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

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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.
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