SPS and PNC have approved this Sailwatch Landing condo in Fort Walton Beach Florida for short sale.
Here are the details:
Original Purchase price: $679,000
First Mortgage: SPS (Select Portfolio Servicing) ** note: this was originally a Bank of America loan that was "service released"
Balance: $530,000
Second Morgage: Etrade, serviced by PNC
Balance: $100,000
Market Value: about $280,000
This Sailwatch Landing condo, Fort Walton Beach, Florida short sale took 120 days for SPS to approve. They asked for a complete package three times. That was frustrating. ETrade, however, approved the short sale in 30 days. They initially asked for a promissory note from the seller. This was negotiated to a full settlement at closing in exchange for a seller cash contribution.
If you are thinking about selling your Fort Walton Beach house or condo as a short sale, give me a call. No matter how many liens you have, and whatever lenders, I will help you figure it out.
It's Wendy!
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