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Short Sale Case Study: Homeowner Wipes Out $101,00 In Upside Down Debt

Northeast OH – Here is a case study of a homeowner that wiped out $101,279 in upside down debt. They built a brand new home at the peak of the market.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

 

They were forced to sell for job relocation a few years later. They found themselves upside down, despite that fact that they had put over $50,000 down when they built their home.

They had no choice but to short sell the home. They put it on the market and it sold several months later. At first the lender wanted a promissory note.

But, they refused to accept it. The short sale was declined and the home was put back on the market. A few months later the home sold again.

The short sale was submitted to the lender. The seller’s told the lender that they would not accept a deficiency under any circumstance.

This time the lender approved the short sale with no deficiency or promissory note. According to our calculations the lender lost $101,279.60.

If the home owners had instead waited for the bank to foreclose and then sell the home, then they may have found themselves owing around $120,000 to $140,000.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH Ohio. Northeast OH Loan Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Rocky River Short Sales. Rocky River Loan Modification Help, Rocky River Short Sale Realtor, Bay Village Loan Modification Help, Bay Village Short Sales, Bay Village Short Sale Realtor. Avon OH Loan Modification Help. Avon OH Short Sales. Avon OH Short Sale Realtor. Avon Lake Loan Modification Help, Avon Lake Short Sales, Avon Lake Short Sale Realtor. North Ridgeville Loan Modification Help. North Ridgeville Short Sales, North Ridgeville Short Sale Realtor. Sheffield Lake Loan Modification Help, Sheffield Lake Short Sales, Sheffield Lake Short Sale Realtor. Columbia Station Loan Modification Help, Columbia Station Short Sales, Columbia Station Short Sale Realtor. Grafton Loan Modification Help, Grafton Short Sales, Grafton Short Sale Realtor. Northeast OH Short Sales. Northeast OH Realtor.

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