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Longwood Florida Short Sale Success With Nationstar And DTA Solutions

By Bryant Tutas

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

January 07, 2013 01:14 AM

Tutas Towne Realty and Bryant Tutas just had another successful Longwood Florida Short Sale closing with Nationstar And DTA Solutions

The property:

Primary Residence. 2 bedroom 1 bath single family home located in Longwood Florida. This home has 1,378 sq ft of living area and was built in 1971. It was purchased in 2007 for $176,000. It Sold 11/13/2012 for $60,000. That's a decline in value of 66% in 5 years.

Liens:

1st Mortgage with Nationstar Mortgage for $140,000

2nd Mortgage with DTA Solutions for $35,000

Hardship:

Added expenses due to family growth.

Summary:

Tutas Towne Realty placed the property on the market 22 February 2012 at $89,000. the price was slowly reduced and in May we negotiated a deal at $52,500.

After several months of working with the lender, Aurora, on a HAFA deal the loans were serviced release to Nationstar and DTA Solutions. So...we had to start over.

The lender countered at $60,000 and the buyer agreed.

Tutas Towne Realty closed the transaction on 13 November 2012. 265 days from listing to closing!!

Nationstar Mortgage accepted $49,500 or .35 cents on the dollar for the 1st mortgage.

DTA Solutions accepted $3,475 or .10 cents on the dollar for the 2nd mortgage.

***The Seller received FULL WAIVER OF DEFICIENCY from both lenders.

What the Seller had to say:

Bryant,

When we first decided that a short sale was the resolution of choice for our situation, we were very scared and intimidated by the possible outcomes. We went straight to a BIG-NAME LAW FIRM thinking that would be our safest bet. They offered “one-stop shop” services from foreclosure defense to short sale support and realtor assistance in selling our home. What a HUGE MISTAKE that was!! We felt like just another case number for them. No one really had a handle on what was going on with our case, we never got any updates, our house was never listed, and to top it all off the contract expired before they really ever did anything for us! Oh, but they were quick to send us a bill and new contract to sign. What a joke!

Then I started to do some research looking for realtors specialized in short sales. I came across Bryant’s blog and found myself reading and reading and reading and LEARNING! I appreciated the open honesty and conversational tone in which the articles were written. After a short phone interview I confirmed that he was a true subject-matter expert and I knew he was hired!

From that moment, Bryant was full speed ahead and led the entire process; my input was very minimal. He kept me fully informed along the way and I never had to sit around wondering what was going on. Sounds funny now but just when I would start to think about calling him I would already have an email, text, or voicemail from him. I have never worked with anyone more professional, dedicated, and truly concerned for their clients.

Our house is now sold and Bryant successfully negotiated TWO FULL WAIVERS OF DEFICIENCY for us. I’ll never be able to thank him enough for the role he played in bringing back some peace to our lives. I’m so incredibly grateful – there’s just no way to truly convey that in a written testimonial. I 100% RECOMMEND HIM not just to my friends and family but to anyone that will listen to me! What a huge difference it can make to have the RIGHT people involved in such an important transaction. I just wish we had found him sooner!

Isabel N-Longwood Fl Short Sale Closed in November 2012

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Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.