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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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
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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
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