...Ripped from the claws of an impending foreclosure!!

 

This beautiful mid-century ranch styled home features a brick exterior, gleaming hardwood floors in all common areas ~ tile flooring in kitchen and baths ~ granite countertops and exposed brick in the kitchen ~ covered rear patio area ~ sitting area in master bedroom ~ bonus room ~ and a single car garage. It was originally purchased in 2007 for $90,000 as investment property. My client borrowed an additional $50,000 for repairs and upgrades, which brought the total mortgaged amount on the property to $140,000. My client experienced a financial hardship, which led to eventual foreclosures of several investment properties. She made several attempts to sell this property for the amount in which she owed on the home. However, the market value for the property had fallen significantly....it appeared as if this home would represent another foreclosure on her credit report. She contacted me and my team and I quickly worked diligently to secure an offer on the property....for fair market value. Shortly after submitting our offer, we were assigned to work with Marva Fitzpatrick at Bank of America. Now, I must admit that I've sold many short sales with Bank of America, but Marva was absolutely wonderful! She could easily be classified as one of the best short sale negotiators that I've worked with! She also worked diligently and efficiently to process our short sale. We ended up selling this property for $36,900 and my client walked away owing her mortgage company NOTHING...NADA...NILCH..!

 With the shadow inventory levels teetering at 1.8 million homes, I'm honored to say that I am part of a growing network of Realtors whose dedicated their entire career to helping provide stability to our defunct housing market. Since short sales normally sell for higher prices than foreclosures, we are constantly helping communities mitigate further damages caused by foreclosures, vacant properties, shadow inventory, etc. By saving one home, we're saving a community......

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Comment by Vanessa Calhoun on April 5, 2011 at 9:25am

Not at all. This was actually a Conventional loan processed through Equator.

Comment by Aldo Figueroa - Maryland Agent on April 5, 2011 at 9:23am
Well done Vanessa! I've sold painless BofA short sales too but they all have been FHA.  I have experienced a different story with equator though.  Nothing but trouble. Was this an FHA loan?
Comment by Vanessa Calhoun on April 1, 2011 at 12:01pm
Thanks, Kim!
Comment by Kim Chitwood www.kimchitwood.com on April 1, 2011 at 11:46am
awesome job girl!!

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