Looking for West Sacramento short sale information? You have
come to the right place. Mike Rigley Certified Default Advocate,
Distressed Property Expert and your short sale specialist here thank you for
joining us. Today let’s talk about a CITI Short Sale we just got approved
When you talk about
great banks to work with you have to always bring up CITI Short Sales as one of
the best. Quite frankly the powers to be at CITI get it.
This particular CITI
Short Sale was a past client whose situation had dramatically changed. With a
reduction in income and increased expenses it was looking like either
foreclosure or a CITI Short Sale were her only options. To add to the mix this
was a VA loan. Now what we do know is that no matter how easy CITI is to work
with on short sales, VA is a stickler for paperwork.
With this in mind we
went right to work. In this tight market we were able to get multiple offers
within 10 days of listing the property and with the right offer accepted
submitted our CITI Short Sale package directly to the CITI Short Sale
department.
Now I’d be lying if I
said it was all puppies and rainbows. Truth be told we had a heck of a time
getting updated financials from our distress seller but once we had the
complete CITI Short Sale package we received Short Sale approval in just over 33 days.
Our mission now is to
get the escrow closed and relieve our seller of any liability for the unpaid
balance. Not only will she not be liable for the unpaid balance but since the
Mortgage Debt Relief Act was extended through the end of 2013 she will have no
liability for income taxes on the forgiven debt either.
Now something everyone
who does a VA Short Sale should know – you will not be able to use your VA
eligibility again unless you paid back the forgiven debt, so know this upfront.
The VA is also not mandated to follow state laws on deficiency so make sure is
you go the VA Short Sale route that that specific language is in your VA Short
Sale approval letter.
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
No comments:
Post a Comment