Fairly simple and straight forward deal here.
Predictable FHA short sale, the 1st mortgage serviced by Webster bank and a small 2nd mortgage with CHFA serviced by the Connecticut housing investment fund (CHIF).
We took a look at the comps, priced the property appropriately, and had a contract in 8 days.
Webster bank was fantastic to work with. Once I had the full short sale package in, an appraisal was immediately ordered and we had an approval letter in about 3.5 weeks! CHIF, as usual was a model of efficiency and had an approval back in a matter of days.
The details:
Amount owed - $150,000
Sale price - $76,000
Closing costs allowed - $7,000
Net to lenders- $69,000
DEBT FORGIVEN - $81,000
Patrick
Need to sell your home? Why settle for less than 5 stars? 2011 and 2012 Five Star Connecticut Magazine real estate agent.
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