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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Mortgage Forgiveness Debt Relief Act Expires in 2012

Mortgage Forgiveness Debt Relief Act Expires in 2012.  Short sales can take 2-8 months.  Most of ours are being completed in 90 days but a rare few are taking 6+ months.  This debit relief act will save you a lot of money and is something to really consider as to why you need to short sale now rather than later in the year.

Again, I am not a tax advisor, so please consult your tax advisor for better explanation.  

Two ways to avoid paying taxes on your deficiency that was waived:  

- If it was your primary residence - The Mortgage Forgiveness and Debt Relief Act and Cancellation expires in 2012

- Insolvency - Your liabilities are more than your assets 

Read more about these below

http://www.irs.gov/individuals/article/0,,id=179414,00.html

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BOA Bank of America Short Sale Testimonial Virginia Maryland Short Sale Agent Specialist

We short sold our clients condo with Bank of America BOA and the seller did not have to pay the bank back.  This approval letter came in 34 days! and she was forgiven over 100k.  This condo was in Herndon at the Bryson at Woodlands Park. If you have any questions about your Bank of America Short Sale contact nate@1245team.com 703-725-2929 for a free consultation.

Read our clients review on zillow below

http://www.zillow.com/profile/NateTheRealtor/Reviews/

"I had a condo that I could no longer afford. I filed bankruptcy back in 2009 so the condo had been sitting there since then, almost 3 years. I received a post card from Nate about doing a short sale and how they had been successful in my condo complex. I gave him a call. He was professional and was quick to get started. Any time I emailed him or called, he was quick to respond. The short sale went through in about 2 months from the day I contacted him. I have never been more impressed then I was with Nate and the 12:45 team who assisted him on the short sale. Everyone I talked to on the time, was professional and handled themselves with class. I would still be stuck with this condo if it wasn't for Nate. I would recommend him to anyone who is thinking of doing a short sale. Now I am burden free and I owe it all to Nate and the 12:45 team. Great Job Nate!"

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Seterus / First Tennessee / First Horizon Metlife Short Sale Approval Letter - 21417 Humbolt Sq, Ashburn, VA

Seterus / First Tennessee / First Horizon Metlife Short Sale Approval Letter - 21417 Humbolt Sq, Ashburn, VA
Sellers were forgiven $84,000 and don't have to pay the bank back.

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

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Seterus / First Tennessee / First Horizon Metlife Short Sale Approval Letter - 21417 Humbolt Sq, Ashburn, VA

21417 Humbolt Sq, Ashburn, VA 20147- Semi Detached Home 4bd/3ba - $389,000
Seterus / First Tennessee / First Horizon / Metlife Short Sale Approval Letter 

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 97 days from contract. The seller was forgiven over 75k
For Short Sale FAQ's visit:
http://www.my1245shortsale.com/

Quick Facts

Hardship: Upside Down on the mortgage, place was to small

List Date: 10/11/2011
Contract Date: 10/24/2011
Approval Date: 1/31/2012
Close Date: 2/24/2012

Result: Full deficiency waiver for our seller.

This was our first short sale where the 1st loan was not short, but the 2nd loan was.  This means that the proceeds from the sale paid off the entire 1st loan.  So we only had to negotiate with the 2nd loan. The 2nd loan actually got paid more than the typical 10% of the loan balance because there was so money left over after paying off the 1st loan.  In the end our sellers only had to contribute $5,000 cash contribution to make $75,000 in mortgage lien be forgiven.  Not a bad deal :)  It took a little bit of back and forth with the 2nd loan until we came to these numbers but everyone was happy.

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 Seterus / First Tennessee / First Horizon Short Sales Contact Us. We have a proven record with Seterus / First Tennessee / First Horizon (Preforeclosure) Short Sales. We can help you with Seterus / First Tennessee / First Horizon Short Sale in Virginia & Maryland.

See the Approval letter here

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12937 Centre Park Circle BOA Bank of America Short Sale Approval Letter Bryson Condos in Herndon, VA

12937 Centre Park Circle, Herndon, VA 20171 - Bryson Condo 1bd/1ba - $160,000
BOA - Bank of America

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 34 days from contract. The seller was forgiven over 100k
http://www.my1245shortsale.com/

Quick Facts

Hardship: Upside Down on the mortgage, lost job

List Date: 12/23/2011
Contract Date: 12/26/2011
Approval Date: 1/30/2012
Close Date: 2/08/2012

Result: Full deficiency waiver for our seller.

This was our quickest and easiest BOA Bank of America short sale. It took only 34 days to get the approval letter and the seller was forgiven over 100k and does not have to pay anything back. Every BOA file is different.  We have another one right now that is taking 80+ days but should be approved soon.  But we have closed every BOA Bank of America short sale we have had!

If you would like a referral to a tax professional with short sale experience, contact 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 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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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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Arlington Condo Short Sale SOLD The Phoenix in Clarendon Arlington, VA Real Estate

We sold our client's Condo at The Phoenix in Clarendon, Arlington, VA today. The lender was Bank of America BOA and over $330,000 was owed. The home sold for $278,000.   Congrats to our seller who was forgiven over $75,000 !!   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 and Here

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