Monday, October 31, 2011

Port Dixie, Shalimar Florida Short Sale Approved by Seterus - LBPS

Shalimar FL short sales
This home in the Port Dixie neighborhood Shalimar Florida has been approved for short saleThere were two mortgages,Seterus(formerly LBPS), and CCO Mortgage for a total encumbrance of about $227,000.

Senior Lien:  Seterus
Balance:  $190,000
Junior Lien: CCO
Balance: $37,000
Property Value: $140,000

This short sale was approved by Seterus in just four weeks. They allowed 6% of the junior lien balance to be paid to CCO. CCO took 120 days to approve the sale. Their reason for the delay was understaffing.  They required the seller to make a payment prior to closing.  Both lenders issued a full waiver of deficiency.  After approving the short sale, Seterus changed the locks on the house anyway.  This required a counter-lock change to give buyers access to do their home inspections.  All in a day's work.

If you are considering short sale to avoid foreclosure, contact a Shalimar short sale agent.  We can write your success story together.
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

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