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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 Bank of America Short Sale Approval Letter: Homeowner in Vancouver, WA, Receives $276,000 Loan Discount, Deficiency Waived!

- Wednesday, December 19, 2012
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

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