2720 Timber SOLD in Lake Charles LA
This Lake Charles home was a Fannie Mae foreclosure in surprisingly good condition with recent updates!
2720 Timber is a 41 year old 1900 sq ft home in South Lake Charles LA near Prien Lake Park. The convenience of the location and price of $144,000 made this home attractive to many home buyers. This house was only on the market for 5 days before going under contract!!!
Buyer's often find themselves jumping through hoops in order to get final loan approval. This home purchase had a technical block with the buyer's IRS tax return from 2010. The buyer had been working with the IRS for 2 years to clear up the problem which was really just a flag on his name due to a similar name on a return from someone else who had turned in a fraudulent tax return. Guess who caught the IRS flagged account??? The lender!!!
That phrase "I fought the law and the law won" does not apply this time! The buyer fought back and WON his fight with a government entity. The buyer had to go above the heads of the local IRS and obtain explanation letters from the IRS office that the lender would accept. His flagged account was lifted....
Home buyers should take note that if they have any discrepancies or name similarities, it could slow down the loan process and explanation letters will be required.
Sometimes when purchasing a home you will face challenges but persistence and patience will pay off. We made it to the closing table and not only did this buyer get a great house that was a low priced foreclosed home, he won his fight with red tape and piles of paper from the IRS!
As your Lake Charles Realtor, I am here to guide you and help you find your dream home and assist you with inspections as well as work with your loan officer to see the process through to a successful close!