Special offer

Short sale approved and closed in Hartford, CT with AHMSI - full waiver of deficiency.

By
Real Estate Agent with CG Real Estate

Obtained a speedy contract on this latest short sale success story, then the usual bumps in the process, and eventual closing.

Appraisal came in 25k over our sale price.  I was able to get American Home Mortgage Servicing Inc. ( AHMSI ) to come down 15k on their demands, and the buyer was willing to meet them in the middle.

All set with an approval letter in hand, it is revealed in an inspection that there is severe structural damage to one of the porches.  We now have to go back to AHMSI in order to get a new approval letter allowing for $2000 in repair credits...which takes over a month....  I was actually VERY surprised that AHMSI and the investor allowed this, especially since the deal was a cash deal.

New approval all set, we closed this short sale in a few days following the new approval with a full waiver of the deficiency!

 

The details:

Sold price: $105,000

Allowed closing costs: $10,000

 

Net to lender: $95,000

 

Total owed: $280,000

 

Debt forgiven: $185,000

 

Need to sell your home? Why settle for less than 5 stars? 2011 and 2012 Five Star Connecticut Magazine real estate agent.

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Who To Call For Your Real Estate Needs In Connecticut:

Patrick James is a REALTOR that can assist you with all your real estate needs in Connecticut. Patrick resides in Middlesex County but also offers Real Estate Services in New London and Hartford counties, as well as portions of Windham, Tolland, Litchfield and New Haven Counties. Patrick  can be contacted via phone or text message at (860)550-5267 or pwjrealtor@gmail.com

 

IMPORTANT NOTICE:

Patrick W. James and CG Real Estate are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Patrick I am sure that you were not happy with the surprise, but I am sure that you are well equip to handle it.

Jan 19, 2012 12:45 PM