Dear Fannie Mae,
I am writing on behalf of Mr Sell M. Short. Mr Short has hired me to sell his property and to assist with negotiating a short sale with Bank of America.
We have been diligently working on this since May of this year. In July we submitted a complete short sale package through the Equator system and have been going back and forth with our negotiator since then.
First, Bank of America wanted a higher purchase price and the buyer agreed. Then they wanted a cash contribution from the seller of $2,500. Even though he has to borrow these funds he has agreed.
Now they are asking him to sign a promissory note in the amount of $15,000 with payments of $100 per month. Unfortunately, the borrower does not have the financial means to make these payments. So of course he is not able to agree to this request.
In the last 3 years Mr. Sell M. Short has already lost 4 properties due to foreclosure and has completed a successful short sale on another. He is not in a financial position to contribute anything more than the $2,500 he has already agreed to.
Therefore, we humbly request that you remove the requirement for Mr. Short to sign a promissory note so we can get this short sale approved and move towards closing.
The buyer is ready, willing and able to close at fair market value for this property. Foreclosing on this property will just reduce the values in the area even further and will cause Fannie Mae and the tax payers more unnecessary expenses.
I own and operate a nationwide network of close to 5,000 agents and attorneys who work short sales every day, www.ShortSaleSupertars.com I would love the opportunity to post an article about a successful dealing with Fannie Mae.
Thank you in advance for your consideration.
Please feel free to contact me at any time.
Tutas Towne Realty, Inc
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