The property: This Orange Park home is a 3 bedroom, 2 bathroom home, almost 1500 square feet. Large backyard, with a location very convenient to shopping, interstates, NAS Jax, etc...
Hardship: The house needed some repairs, mainly cosmetics like paint, flooring and some updating.
Short sale scenario: This home had 2 mortgages, both with Wells Fargo. Even though both mortgages were with Wells Fargo, they had to be treated as two separate mortgages. We had 3 contracts on this house before the 3rd one stuck. During the course of the short sale, the first mortgage was approved, then eventually the 2nd one was too. However, we had to ask for an extension on the first approval, since the approval was done long before the 2nd. They denied it, even though they had access to see that we were just waiting on the 2nd lien approval with their company. After being told no multiple times, and the 2nd lien holder unable to help, I went online and found email addresses for higher up executives for Wells Fargo. I sent them all an email explaining the situation. Funny thing happened, we got the extension and moved onto closing. The seller did have to make a small contribution at closing but had no promissory note and the right of the lender to pursue a deficiency judgment was waived.
If you find yourself in a short sale situation and want to know your options either call me at 904-910-3516 or email me at pam@pamgraham.com.
Other successful short sales I've completed:
- Wells Fargo Financial
- Navy Federal
- Litton Loan
- Wells Fargo
- Bank of America
- Select Portfolio Servicing, Inc
- HSBC
- Provident Funding
- Litton
- Vystar
- American Home Mortgage Servicing Inc
Pam lists and sells homes in Jacksonville, Orange Park, Green Cove Springs, Fleming Island, Middleburg,Ponte Vedra, Atlantic Beach, Neptune Beach, Jacksonville Beach, Orangedale, Fruit Cove, Switzerland and St Johns County Florida.
Are you facing foreclosure? Call Pam at 904-910-3516 to discuss your options.
Pam Graham with All Real Estate Options handles Jacksonville Florida short sales, Orange Park Florida short sales, Fleming Island Florida Short sales, Middleburg Florida short sales, Green Cove Springs Florida short sales, St Johns County Florida short sales, Ponte Vedra Florida short sales, St Augustine short sales, Palm Valley short sales, Duval County Florida short sales and Clay County Florida short sales.
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Mortgage Assistance Relief Services Disclosure
ALL Real Estate Options is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
Pam-Great post! I don't know how many times I've been denied during a short sale. I don't take no for an answer (especially if the sellers are doing their part in the short sale). I've saved several short sale transactions by pressing on.
Great job! You fought hard for your client and it paid off!