peoples first short sales: Feds Shut Down Peoples First Bank - Was Denying All Short Sales Part of Its Demise? - 12/19/09 11:50 AM
About a year ago I wrote about People's First Community Bank in "Short Sale Denied - Despite Cancer Diagnosis". My seller's husband had kidney cancer, and her financial situation had become tenuous. She could no longer afford the payments on her lot near Destin Florida.
I worked to help her do a short sale to avoid foreclosure. When we sent in the contract, People's First told me they "do NOT do short sales, period". I called them and reiterated the diagnosis of kidney cancer, wondering how this woman could keep up with her payments. I also asked, "Why would your company not consider … (11 comments)
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peoples first short sales: Short Sale Denied - Despite Cancer Diagnosis - 12/19/08 02:19 PM
I am writing about a very disturbing short sale situation. The property is a lot in Windswept Estates, a golf course community in Freeport, Florida. The mortgage is held by Peoples First, "Florida's Community Bank". After several months of price reductions on my seller's lot, we finally got a short sale offer of $29,900- fair market value. The mortgage balance is $183,000.
My seller's husband has just been diagnosed with kidney cancer, age 36. She herself has lost about half of her income in the past year, as assistant to a financial advisor and another part time job. Her charge card balance is around $60,000 … (22 comments)
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