Home Closing Process

This is the 4th tip of “10 Questions You Should Ask About Florida Short Sales” eBook, which is available as a FREE download.

You’ve been there, I’ve been there – WE’VE ALL BEEN THERE!

That point in time when you look at all the facts in a transaction and come to question if it will ever close!!!

Do throw in the towel? Call for help?

If you are like most of us, you probable have invested a lot of time and energy into the transaction, so giving up and throwing in the towel is not an option!

That is when we enter the picture and I come to experience the ”The Hardest Short Sale Ever”

In the spring of 2010, a Cape Coral REALTOR® who had heard me speak on short sales at the Cape Coral REALTOR ® Association called me to ask if we could help on a potential short sale. This was a seasoned professional; but I could tell from his tone that he seriously doubted that the deal in question would ever be able to close. Because of the size of the deal ($1M+) though, it made sense to at least give it a shot.

Here is a list of items that, at first blush, supported the realtor’s doubts about the possible success of this Cape Coral short sale:

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Not sure if you are on Bank of America’s email list, but if you are not – I wanted to share with you this great news!

Here are some of the Frequently Asked Questions:

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This was a great question I was asked earlier this week, during a short sale process presentation I did to a group of REALTOR’s from Sellstate Priority Realty, a very successful brokerage in Cape Coral, Florida.  It was a very engaged group, and I was glad when someone asked a question about what to do about a junior lien in a primary home short sale scenario.

Here is a short video clip (about 4 minutes) that addresses this common issue:

So as you heard, Liz and Lynda presented the following scenario of a primary home short sale of a Cape Coral property. The owner of the property is disabled and can no longer afford the home.  Here are the details:

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It’s possible to short sale your property even if your property is encumbered by two mortgages.

Here’s proof that if can really happen even with a Bank of America short sale.

The active players were “EMC Mortgage Corporation holding the 1st mortgage and Bank of America Home Equity Line of Credit holding the 2nd.

After EMC received a complete package, they approved the terms of the short sale in 67 business days! Then the package was handed over to the Bank of America short sale department, specifically the HELOC department out of Jacksonville. They work fast. They approved their side of the short sale in less than two weeks after receiving the complete package. (If you have been following my blog, you will notice that the key to a short sale success is a complete package )

Here’s the approval breakdown:

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What lengths would you go to in order to save your bank mortgage short sale from foreclosure?

Our team at Winged Foot Title refuses to take “NO” for an answer!

After being told that a Saxon Mortgage short sale was a lost cause, Winged Foot Title persevered and got Freddie Mac to approve the short sale and save it from the brink of foreclosure.

This is just one of the examples of the lengths to which our team will go to get the job done.

How many times have you heard of a bank mortgage short sale story like this?

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The battle is won!

Victory with the Equator System Strategy!

GMAC is doing an awesome job implementing the Equator System into their process. This is helping us at Winged Foot Title achieve speedy approvals.

Check this out:

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Does this sound to good to be true?

Not when you’re dealing with the Lehigh Acres Short Sale experts at Winged Foot Title.

Check out the scenario of our latest Lehigh Acres Short Sale success story….

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