Congratulations to Michelle and Sam on the successful short sale of their home. There were some serious challenges with this one, but we managed to persevere and get to a successful closing.
This was a USDA guaranteed Chase loan, and provided some specific hurdles to overcome. It required extreme patience on the part of everyone involved.
Our buyers had the patience of Job and hung in there through thick and thin. In the end, their patience paid off and they won the prize - their first home at a great value. historically low interest rates and a mortgage payment cheaper than rent.
For my sellers, they won the prize of avoiding foreclosure, release of liability for the deficiency and a closing before the mortgage debt forgiveness act expires. They will now be able to close this chapter of their lives and begin rebuilding.
A success all the way around, this was a good day.