BOA Bank of America & M&T Bank Short Sale Approval Letter Deficiency waived Fairfax, VA Penderbrook Square Condo

If you have a condo at Penderbrook Square or Northern Virginia, let us help you do a short sale so you do not waste away your life savings on a home upside down. I was in the same situation you are 2 years ago when I had to short sale my home. I know exactly what you are going through and would be honored to have a free consultation with you.  Call Nate at 703-725-2929

M&T Bank and Bank of America BOA were the loans on this short sale. Read the approval letters below. Real Estate Agent Short Sale Specialist for Virginia & Maryland

3904 PENDERVIEW DR 707 FAIRFAX VA 22033 - 1bd/1ba - $145,000
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank.

We just got this short sale approved. The seller was forgiven over 75k
For Short Sale FAQ's visit:
http://www.my1245shortsale.com/

Quick Facts

Hardship: Upside Down on the mortgage, relocated for work out of state

Ratified Contract: 2/27/2013
Final Approval Date: 4/24/2013
Close Date: 5/17/2013

Result: Full deficiency waiver for seller. Read the approval letters below.

This short sale went rather smoothly compared to most of ours.  We had a slight problem with the appraisal but came to terms with the buyer at $145,000.  Our seller was forgiven the entire deficiency and did not have to pay the bank any money at all!

If you would like for us to refer you to a tax professional with short sale experience, contact us at Nate@1245team.com

If you have any questions concerning M&T Bank or BOA Bank of America Contact Us. We have a proven record with M&T Bank or BOA Bank of America. We can help you with M&T Bank or BOA Bank of America in Virginia & Maryland.

 

 

 

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Bank of America BOA Short Sale Approval Letter Penderbrook Square Real Estate Agent Fairfax Virginia

Bank of America BOA Short Sale Approval Letter Penderbrook Square Real Estate Agent Fairfax Virginia

3909 Penderview Drive - 2bd/1ba -$155,000
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank.

We just got this short sale approved. The seller was forgiven over 100k
For Short Sale FAQ's visit:
http://www.my1245shortsale.com/

Quick Facts

Hardship: Upside Down on the mortgage, place was to small, going through a divorce

List Date: 07/21/2011
Approval Date: 2/29/2012
Close Date: 3/30/2012

Result: Full deficiency waiver for our seller.

This short sale was tricky and took longer than normal.  First the place sat on the market for 3 months before we got a contract.  This was because the condo was outdated and every other condo in the compolex was fully updated. So after dropping the price we finally got a buyer at $155,000.  BOA uses Equator for their short sales and this process usually completes in 90 days.  But our negotiator was terrible and grossly messed up our file and delayed it.  We lost the first buyer but found another buyer right away and were able to close in 2 months.  Total time from the first contract to approval was 5 months.  So a little bit longer than normal. When we got the 2nd buyer I met with BOA executives at conference and had them escalate the file and get us a new negotiator ASAP. I was shocked, within 2 weeks we had the approval.  Our sellers were forgiven over 100k and do not have to pay it back.

If you would like for us to refer you to a tax professional with short sale experience, conact us at Nate@1245team.com

If you have any questions concerning BOA Bank of America Short Sales Contact Us. We have a proven record with BOA Bank of America (Preforeclosure) Short Sales. We can help you with BOA Bank of America Short Sale in Virginia & Maryland.

See the Approval letter here

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Indymac Service Link / SLS Specialized Loan Service Short Sale - Penderbrook Square Fairfax

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Fairfax County Short Sale Specialists - New Listing from 12:45 Team Fairfax, VA Penderbrook Sq



Fairfax County Short Sale Specialists - New Listing from 12:45 Team Fairfax, VA Penderbrook Sq

Visit http://12010ridgeknolldr.blogspot.com/ for video and pictures of this property.

Short Sale FAQ's visit www.my1245shortsale.com

2bd/2ba - $220,000 Penderbrook Square

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Indymac - Service Link / SLS Specialized Loan Service Short Sale Approval Letter - Penderbrook Square, Fairfax, VA

12163 Penderview Terrace, Fairfax, VA 22033 - Penderbrook Square 1bd/1ba - $146,000
Indymac - Service Link / SLS Specialized Loan Service

We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank.

We just got this short sale approved in 115 days from contract.  The seller was forgiven over 100k. For Short Sale FAQ's visit:
http://www.my1245shortsale.com/

Quick Facts


Hardship: Upside Down on the mortgage, outgrew the condo

List Date: 10/06/2011
Contract Date: 10/10/2011
Approval Date: 1st loan - 1/17/2012 & 2nd loan 1/31/2012
Close Date: 2/08/2012

Result: Full deficiency waiver for our seller.

This one was one of our more difficult short sales.  That only means it took it a little bit longer to get what we wanted.  Indymacs servicer Service link kept wanting alot more money than the property was worth.  We had to dispute the BPO with Fannie Mae.  This took some time, but we finally got the number to where we needed it.  SLS Specialized Loan Service intially wanted a larger payout to forgive the debt but after a few rounds of negotiations we got them to accept 10% of the loan balance. Our seller only had to give them a cash contribution of $2,240 because Indymac paid the rest.

If you have any questions concerning Indymac - Service Link / SLS Specialized Loan Service Short Sales Contact Us. We have a proven record with Indymac - Service Link / SLS Specialized Loan Service (Preforeclosure) Short Sales. We can help you with Indymac - Service Link / SLS Specialized Loan Service Short Sale in Virginia & Maryland.



See the Approval letter for 1st Loan

2nd loan approval letter

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BOA Bank of America Short Sale Approval Letter, Penderbrook Square Fairfax, VA 12152 Penderview Terrace

BOA Bank of America Short Sale Approval Letter, Penderbrook Square Fairfax, VA 12152 Penderview Terrace - 2 bedroom condo. $173,000
We are now 29 for 29 in successfully completing short sales for our sellers.

We just got this short sale approved!!  The seller was forgiven over 100k
http://www.my1245shortsale.com/

Quick Facts

Hardship:  Upside Down on the mortgage, Home is to small

List Date: 7/08/2011 
Contract Date: 7/28/2011
Approval Date: 11/02/2011
Close Date: 11/10/2011
Result: Full deficiency waiver for our seller.

BOA short sale. Bank of America caused a few issues on this but actually it was the Mortgage Insurance company on the 2nd loan that was the issue.  So this took a little bit longer than normal. Basically if one of the loans has mortgage insurance, it can be tricky.  They have to approve the short sale also and they dont care if it goes to foreclosure because they have to pay the same amount in claims in a short sale or foreclosure. So they sometimes make unreasonable requests.  After fighting them for a couple weeks we came to terms on a small promissory note. Intially they wanted over $7,500 in cash contribution to go along with the promissory note, but we got them to waive that. The sellers were in fact forgiven over 100k in deficiency.  So we were pretty excited about this accomplishment.

If you have any questions concerning BOA Bank of America Short Sales Contact Us. We have a proven record with BOA Bank of America (Preforeclosure) Short Sales. We can help you with BOA Bank of America Short Sale in Virginia & Maryland.

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Bank of America BOA Short Sale - Penderbrook Square 3918 Penderview Drive Fairfax

3918 Penderview Drive, Fairfax, VA 22033  -  Penderbrook Square - 1 bedroom condo. $143,000
Bank of America BOA

We are now 27 for 27 in successfully completing short sales for our sellers.
We just got this short sale approved in 36 days from contract!!  The seller was forgiven over 100k
http://www.my1245shortsale.com/

Quick Facts

Hardship: To Much Debt, Loss of renter, Upside Down on the mortgage

List Date: 9/1/2011 
Contract Date: 9/2/2011
Approval Date: 10/08/2011
Close Date: 11/10/11
Result: Full deficiency waiver for our seller.

BOA short sale. Bank of America was very quick and we had no issues.  They did initially send us an approval letter with the seller having to pay the bank back over 100k  but we negotiated and are having our seller contribute $1,300 to be forgiven and not pay the bank back!

If you have any questions concerning BOA Bank of America Short Sales Contact Us. We have a proven record with BOA Bank of America (Preforeclosure) Short Sales. We can help you with BOA Bank of America Short Sale in Virginia & Maryland.

We will be posting testimonial and the approval letter shortly

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Acacia Wells Fargo Short Sale Approval Letter Penderbrook Square 12159 Penderview Terrace Fairfax, VA

We just got this short sale approved and closed  with Acacia and Wells Fargo!!! 12159 Penderview Terrace. October 14, 2011

http://www.my1245shortsale.com/



Quick Facts
Hardship: To Much Debt, Upside Down on the mortgage, place is to small
Days for Approval: We got this approval letter in 73 days from contract ratification.
Amount Forgiven: Over $100,000 and the seller does not have to pay the bank back!

We did not have any problems with Acacia or Wells Fargo.  We had some slight delays with both lenders but overcame both problems.  Acacia did not want to start the process, so we had to escalate to the president of Acacia to get him to move this file along.  Wells Fargo was fighting us because they believe our client could afford the place.  She could but she no longer wanted it as it was upside down. We negotiated and got both of these banks to full approve the short sale and waive the deficiency.
Here's the Acacia and Wells Fargo short sale approval letter. The banks states "The preforclosure sale may have an impact on your income taxes. You should consult with your tax preparation professional. Additionally this transaction will be reported to the credit bureau as 'Settled in full for less than total payoff.'" According to the tax attorney, this is a good letter. Since this was her primary residence, she will not have to pay taxes on the forgiven amount.

If you have any questions concerning Acacia and Wells Fargo Short Sales Contact Us. We have a proven record with Acacia and Wells Fargo (Preforeclosure) Short Sales. We can help you with Acacia and Wells Fargo Short Sales in Virginia & Maryland.

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Acacia / Wells Fargo Short Sale Approval Letter Penderbrook Sq, Fairfax, VA 12159 Penderview Terrace

Acacia / Wells Fargo Short Sale Approval Letter Penderbrook Sq, Fairfax, VA 12159 Penderview Terrace

For Sale FAQ's visit
http://www.my1245shortsale.com/

Quick Facts

Hardship: To Much Debt, Upside Down on the mortgage

Days for Approval: 120 days to get the approval and we closed within 30 days.
Amount Forgiven: Over $100,000 and the seller does not have to pay the bank back!

The sellers decided to sign a small promissory note with Acacia instead of paying a cash contribution because money was tight. This is interest free and they have 10 years to pay it off.

Here's the Acacia and Wells Fargo short sale approval letter. The banks states "The preforclosure sale may have an impact on your income taxes. You should consult with your tax preparation professional. Additionally this transaction will be reported to the credit bureau as 'Settled in full for less than total payoff.'" According to the tax attorney, this is a good letter. Since this was her primary residence, she will not have to pay taxes on the forgiven amount.

If you have any questions concerning Acacia and Wells Fargo Short Sales Contact Us. We have a proven record with Acacia and Wells Fargo (Preforeclosure) Short Sales. We can help you with Acacia and Wells Fargo Short Sales in Virginia & Maryland.

Click Here for Acacia Approval Letter

Click Here for the rest of Wells Fargo Approval Letter

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Cenlar / Bayview / Fidelity & Trust Short Sale Approval Letter

We just got this short sale approved in 35 days!!!  It will be closing in less than 60 days from ratification.
http://www.my1245shortsale.com/

Quick Facts

Hardship: To Much Debt, Upside Down on the mortgage

Days for Approval: 35 days to get the approval and we closed within 60 days.
Amount Forgiven: Over $100,000 and the seller does not have to pay the bank back!

Cenlar / Bayview / Fidelty & Trust was great to work with and they moved the file along very quickly. This loan had Mortgage Insurance & an Investor.  Surprisingly they all agreed to short sale very quickly. We were able to bring a a cash offer

Here's the Cenlar / Bayview / Fidelty & Trust short sale approval letter. The banks states "The preforclosure sale may have an impact on your income taxes. You should consult with your tax preparation professional. Additionally this transaction will be reported to the credit bureau as 'Settled in full for less than total payoff.'" According to the tax attorney, this is a good letter. Since this was her primary residence, she will not have to pay taxes on the forgiven amount.

If you have any questions concerning Cenlar / Bayview / Fidelty & Trust Short Sales Contact Us. We have a proven record with Cenlar / Bayview / Fidelty & Trust (Preforeclosure) Short Sales. We can help you with Cenlar / Bayview / Fidelty & Trust Short Sales in Virginia & Maryland.

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Suntrust Bank Short Sale Approval Letter - 3909 Penderview Drive Penderbrook Sq Fairfax VA

Suntrust Bank Short Sale Approval Letter - 3909 Penderview Drive Penderbrook Sq Fairfax VA

For Short Sale FAQ's visit
http://www.my1245shortsale.com/

Quick Facts

Hardship:  To Much Debt, Upside Down on the mortgage

Days for Approval: 58 days to get the approval and we closed within 90 days.  We lost the first buyer but got another buyer ASAP and still closed within 90 days from ratification.

Amount Forgiven: Over $125,000 and the seller does not have to pay the bank back!

Suntrust was great to work with and they moved the file along very quickly. 

Here's the Suntrst Bank short sale approval letter. The banks states "The preforclosure sale may have an impact on your income taxes. You should consult with your tax preparation professional. Additionally this transaction will be reported to the credit bureau as 'Settled in full for less than total payoff.'" According to the attorney, this is a good letter. Since this was her primary residence, she will not have to pay taxes on the forgiven amount.

If you would like for us to refer a good short sale tax attorney to you. Contact us at Nate@1245team.com
If you have any questions concerning Suntrust Bank Short Sales Contact Us. We have a proven record with Suntrust Bank (Preforeclosure) Short Sales. We can help you with Suntrust Bank Short Sales in Virginia & Maryland.

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FOLLOW THE STEPS OF A LIVE SHORT SALE

CLOSED 7/14 - 3 months from contract to close!! Congrats Mary

Are you still curious about short sales and what happens throughout the entire process ? Check back here weekly to see our progress on one of our current short sales. If you have any questions, Contact Us asap.

3/07/11 - Short Sale Packet delivered to owner
3/12/11 - Short Sale Packet completed and turned into agent
4/8/11 - Property listed on the market
4/10/11 - Property Under Contract (Ratified)

The first 30 days after contract ratification are VERY important in a short sale. The first 30 days are a success if we have our package accepted by the bank. A negotiator is assigned. And a BPO (Banks Appraisal) is completed. If we can get these done in the first 30 days. There is a really good chance we can have the short sale approved and closed in 90 days.

4/12/11 - Entire Short Sale Packet (100+ pages) sent to the lender
4/22/11 - Suntrust had problems receieving the short sale packet.  After faxing the packet every day, they received the packet today and assigned a negotiator!!  Next step is for them to do a BPO (appraisal of the property)
5/03/11 - BPO done !!

We just completed 75% of the short sale in less than 30 days.  Most agents can not get this done in 2-3 months. (The longer you draw out a short sale, the more likely foreclosure will happen) Next we will be making sure the BPO is within an acceptable range for the bank to accept our buyers offer. Then we will be negotiating with the negotiator to approve the short sale.

5/18/11 - We are negotiating with the negotiator.  The bank is determining their values for the property and at what price they will allow the short sale to go through at. More info soon.

5/24/11 - The file is with the mortgage insurance company. Once they approve the short sale, its a done deal. Alot of mortgages have insurance on them and this 3rd party has to agree to the short sale also.

5/27/11 - It turns out only the 2nd loan had mortgage insurance and not the 1st loan.  So we have approval for the 2nd loan, although details are still being worked out.  We are still waiting to negotiate terms on the 1st.

6/3/11 - Negotiator has submitted file for approval, We are CLOSE!

6/10/11- We have APPROVAL!!  Less than 60 days it took us on this one.  We are still working out some of the numbers on the approval letter but the Seller was forgiven their entire debt and only has to pay a $4,000 cash contribution.  She had stopped making her mortgage payments and for the last 3 months would have paid more than $4,000 for her mortgage payments.  Now the buyer has to get their financing in place and in 30-45 days we will close!

6/15/11 - Just another aspect of the short sale process.  Once you think your all done, something else pops up.  Our buyer walked. They were scared of buying a home.  So now we are working on getting another buyer. Good thing is we have 3 contracts we are looking at.  Once we choose one, we will have to negotiate with the bank to accept the new contract and close in July. The hardest part is done, getting the approval letter. Now we just have to get to closing with a new buyer. We will keep you posted.

6/19/11 - We got a new buyer for the property.  We are still scheduled to close July 15th!!  Seller is forgiven the deficiency and does not have to pay the bank back!!

7/14/11 - No problems and we closed!

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Fairfax Condo Short Sale Sold! Penderbrook Square Bank of America

This short sale just got approved and is closing the end of May.  We are now 18 for 18 with our short sales successfully being approved and closed.  The lender was Bank of America.  This short sale took 3 months from contract to close.  The seller bought the home for $277,000 in 2007 and the condo sold for $175,000. The seller was forgiven over 120k !! If you have any questions about short sales or you know someone that needs help, call me at 703-725-2929 or email me at natejohnson@kw.com  Please also visit our websites  http://www.myshortsalecondo.com/ and http://www.myshortsaletownhome.com/

To see the short sale approval for this condo Click Here  (coming soon)





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