Bank of America FHA Short Sale – 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.
To use the context of a
quote from the movie “Forest Gump” life is like a box of chocolates, you never
know what you’re going to get. Oddly enough the same can be said for Bank of America FHA short sales. While we have had great success in getting our Bank of America FHA short sales approved I can’t say the
journey hasn’t been without its challenges.
This week we received
the Authorization to Participate or ATP on a file that I told the seller I
thought we had only an 80% chance of getting approved. I said this because the
seller was moving out of state and leaving the property vacant. FHA short sale guidelines are pretty clear
about the property needing to be owner occupied throughout the process. Even in
a divorce FHA expects one of the owners to live there. Anyway, this seller
had accepted a new job out of state and was moving regardless. They packed up
their stuff and left. As we do in all Bank of America FHA short sales we quickly secured an offer and submitted a clean Bank of America FHA short sale package to the Bank of America FHA Short sale department.
Now if you remember from
previous posts, FHA short sales are a two-step process. The
first step is to get the ATP and the second step is for the offer to be
accepted. We received theATP in right at 30 days and are now in the process of
getting the offer approved. This should be a no brainer because our net is well
above what Bank of America / FHA are requesting. With this approval we
will be able to keep another property from falling into foreclosure, the seller
will walk away from over $300,000 in debt and did I tell you – we were also
able to negotiate off a $10,000 home improvement loan the seller will not have
to pay back – how great is that?!
Is a West Sacramento Short Sale Right for Me?
Give me a call and let’s find out. We also offer ashort sale lease back program
for those who qualify allowing you to short sale and stay in your home. Call me for details
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.
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