Bank of America Approves Steeplechase, Crestview FL Short Sale – No Deficiency
This lovely home in the Steeplechase subdivision, Crestview, Florida, has just been approved for short sale. Bank of America took 90 days to approve the sale. The delay was caused by Bank of America automatically putting the short sale into the HAFA (Home Affordable Foreclosure Alternatives) program, since it was owner-occupied. It was subsequently removed from HAFA, since all program criteria were not met.
Bank of America approved this Steeplechase, Crestview Florida short sale and waived the right to seek a deficiency judgment for the unpaid balance.
There was much negotiation to achieve this short sale approval, which had one investor and Mortgage Insurance. Each party had a separate interest, which required individual negotiations through Bank of America (the servicer). Waiver of deficiency is normally a desirable result for a short sale, so the outcome was positive for the seller.
If you need to sell your Crestview Florida home to avoid foreclosure, consider doing a short sale. Even if you’ve had a Lis Pendens filed, it may not be too late. To improve your chance of success, consult an attorney and an experienced Crestview FL short sale agent.
It’s Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call Wendy toll-free 1-877-487-9639 or 850-650-7883 ext 204
Email Wendy: [email protected]
Crestview Florida FL Real Estate
