We just got this short sale approved in 35 days!!! It will be closing in less than 60 days from ratification.
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.