Successful Short Sale in Jacksonville Florida!
The property: This was a single family home in Jacksonville with 4 bedrooms, 2 bathrooms, little over 2000 square feet. On a cul de sac. The house needed some paint, carpet and a little tlc.
Hardship: Loss of tenant, couldn’t get reliable tenants. Financial difficulties.
Short sale scenario: One loan, with the lender being Select Portfolio Servicing. We were in a multiple offer situation, with the highest and best offer submitted. The BPO was done before the offer was submitted. It took around 2 months from contract to closing. This sold for 182k, the bank paid 7k towards the buyer’s closing costs. The seller owed around 245k. There was PMI on the loan, which the bank put into place on their own after the owner had bought and closed on it. The seller had a promissory note to pay to the PMI company.
- Wells Fargo Financial
- Navy Federal
- Litton Loan
- Wells Fargo
- Bank of America
- Select Portfolio Servicing, Inc
- HSBC
- Provident Funding
- Litton
- ING
If you find yourself in a short sale situation and want to know your options either call me at 904-910-3516 or email me at pam@pamgraham.com.
