Realestateguy is happy to announce approval of another short sale in Madison Wi. This brings the total to over 30 successful short sales and amongst the best record in Dane County.
Scenario. What is a Short sale?
Offer for $150,000, loans for $160,000 Monona State Bank, Fannie Mae and Mortgage Insurance and $80,000 with Guaranty Bank.
BPO value $155,000.
Both loans short, negotiated $5,000 payoff to second. Primary mortgage amount was sufficient to be automatically approved by Fannie mae (85% of BPO).
Time frame 6 weeks. Offer to approval. 3 weeks to close.
Congratulations to our sellers Reid and Cara for being able get out from under a mountain of debt and to move on. And to our buyers who have secure a wonderful home.
If you are in the situation where your mortgage is a weight around your neck, we might be able to help. Call us and we can likely tell you in a short phone interview.
We can also help you with Loan Modification information too.
If you would prefer to leave the home and you are underwater in your home, a short sale may be for you. About short sales Madison Wi.