Winter Park, Florida short sale closed with Flagstar
Published On: July 5, 2012 Posted by: TownsRealty
Towns Realty just had another successful Winter Park short sales listings closed with Flagstar.
This was a beautiful pool home with 3 bedrooms and 2 bath and fenced backyard.
Sellers had to relocate out of state due to job relocation and weren’t able to keep the home. The mortgage on this property was $205,000.
The property was listed for $119,900 and sold for $118,000.
This short sale was one of the hardest short sales we have done in several years. Flagstar Mortgage is one of the worst lenders in dealing with short sales. Their lack of interest in processing the short sale was abysmal. Even so the sellers and buyers were patient and kept optimistic that in the end the short sale will be approved.
Sellers were forgiven the remaining balance of the loan, a full deficiency waiver and were very happy with the short sale outcome.
The secret to successfully closing short sales is to never give up and do your due diligence on the file. Knowledge in short sales, continuing to improve your short sale knowledge and staying on the top of the file from the beginning of the process to the end of it; is what makes Towns Realty successful in short sales.
Success is due to persistence, knowledge and commitment to your clients.
Now, on to the next successful short sale closing…stay tuned