West Sacramento Short Sale Information - Seratus Fannie Mae Short Sale

West Sacramento Short Sale Agent, Default Advocate, Distressed Property Expert and West Sacramento Short Sale Specialist Mike Rigley here bringing you the latest West Sacramento Short Sale Information. Thank you for joining us. Today let’s talk about a Seratus Fannie Mae Short Sale we were involved in.

  

We seem to go through periods where we deal with one investor more than other times and every file is like pulling teeth from a rabid Doberman – you get the job done but not without a few nicks and bruises. This was the case on our recent Seratus Fannie Mae Short Sale closing

We had a Fannie Mae Owned Seratus serviced first mortgage and a Bank of America HELOC second. As is Fannie Mae’s MO these days they countered our first offer 20% above fair market value. Once again we lost a buyer and had to go through the motions of waiting Fannie Mae out until we were able to secure a buyer at fair market value. Crazy how Fannie Mae continues to lose our money while they play games but it is what it is.

With Short Sale Approval from Seratus and Fannie Mae, the Bank of America HELOC was more than accommodating and approved the Bank of America Short Sale on the second as well. Should be a quick close right? Oh how I wish that was the case.

You see, the property was tenant occupied and even though we told the tenant 90 days prior they had troubles vacating the property. Now many people don’t realize in any West Sacramento Short Sale we have two stages. The first is to get the West Sacramento Short Sale approved and the second is to close the escrow. This was one of those cases where the Seratus Fannie Mae Short Sale was not as difficult as getting the tenant out and the escrow closed. Certainly eviction sounds like the way to go however I know you get more with honey than you do vinegar. We chose to work with the tenant on finding suitable replacement housing rather than fight with him. Had we gone the eviction route the file could have been tied up for months.

With a little love and luck we were able to close this Seratus Fannie Mae Short Sale 20 days late but at least we closed and the seller walked away from over $400,000 in debt with no liability for the unpaid balance. He could not have been happier.

Is a West Sacramento Short Sale Right for Me?

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did