Providing you with the knowledge and tools needed to succeed with Short Sales.
3 short sale approvals
Mortgage amount 228,000
Offer amount 130,000
Net amount to lender: 119,100
Commission paid 6%
Total release, no note, no deficiency
American Home Mortgage
*******Seller was an investor and was current on all payments and HOA fees******
Mortgage amount 214,900
Offer amount 145,000
Net amount to lender: $126,833
Commission paid 6%
Buyer recieved 3% for closing costs
Seller signed a promissory note $100 per month/240 months
Full release with promissory note
Litton Loan Servicing
Mortgage amount 1st $796,000 2nd $199,000
Offer amount $280,000
Net to 1st $262,781.61 Net to second $6246.24
Commission Paid 5%
Seller to contribute $15,000 cash at closing
Saxon Mortgage
Replies to This Discussion
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Permalink Reply by Wendy Rulnick on -
You're da bomb!! Go Jeff!
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Permalink Reply by Jeff Payne on
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I learned it right here!!!! ShortSaleSuperStars.com is DaBomb
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Permalink Reply by Alan Nguyen on
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wow that's great, Jeff. I'm looking forward to close one myself soon.
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Alan, stick with this site and it will lead you to successful short sales.....
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Permalink Reply by Suzanne Cutler on -
Jeff,
what was the listing price on the property in your third example. wow they took $280,000.
Where you the listing agent or buyers agent. How many days did it take to close?
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Number 3 started out at 1,200,000 and we worked it down to 300,000. Had a buyer from another agent and he got to closing and would not sign, had a back up at the same price and closed it at $280,000
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