We've recently closed on another Bayview Loan Servicing Short Sale, this one in the Maplewood, NJ.
This colonial style home was located in the thriving community of Maplewood, which is highly desired by NYC commuters due to its easy train ride to Manhattan. With 3 Bedrooms, 2 Full Bathrooms and a Finished Basement, there was a lot of demand for this Bayview Loan Servicing Short Sale.
Originally, the loan was serviced by Wells Fargo Short Sale Department, but after a service release, Bayview Loan Servicing picked up the loan. We quickly changed course, helping our Short Sale client complete her hardship affidavit and Short Sale application. Finally, a Broker Price Opinion was done.
As we were able to obtain a pre-approved Bayview Loan Servicing Short Sale List Price, we knew any offer at full price would be approved by the lien holder. We got an offer relatively quickly, but then we ran into some trouble with the Buyer.
The buyer originally represented thathis would be a cash purchase, not subject to any financing. To make a long story short, the buyer did not perform. We had to find a new buyer for the same price in only 3 weeks, as our Bayview Loan Servicing Short Sale Approval Letter was about to expire. Never a dull moment in short sales!
Fortunately, we have a pool of cash, investor clients always in the market to purchase a Short Sale. One of those buyers was willing to step in at the same price level. We rapidly prepared new contracts for the parties to sign and submit to Bayview Loan Servicing Short Sale department for approval. We got the new buyer's offer approved and closed the deal on the last day possible.
Our Short Sale client was able to walk away from her under water Bayview Loan Servicing mortgage, and even received a Borrower Incentive Fee at the closing. As is standard in all of our short sales, our short sale seller clients did not have to pay for anything related to the sale. The purchaser paid for the municipal inspections, fire certificate and Certificate of Occupancy. The buyer of this Bayview Loan Servicing Short Sale got what he believes is a tremendous value and great investment.
Another Bayview Loan Servicing Short Sale Approval in the books, and we look forward to closing more in the near future!
If you are facing difficulty with your Bayview Loan Servicing mortgage, please contact us for a free and confidential consultation.