June 13, 2022

hamden short sale
upside down home

A Hamden FHA short sale success!

By the time this frustrated Hamden, CT homeowner called me, she had already spent months evicting her non paying tenant, followed by even more time trying to get a short sale approved unsuccessfully with another Realtor. She was at her wits end but decided to give it another try. 

short sale rejected

A complicated short sale

Between the first FHA mortgage with Key Bank, a second mortgage with CHFA, and a partial claim with HUD, there were a lot of liens to coordinate to clear title and move the property. Working with multiple lienholders can be complicated and requires expert help. The original sale had fallen apart as the prior agent was unable to coordinate all the releases leaving the seller back at square one. With no time to spare we relisted the property and started again.

Short sale approved!

After finding a buyer, it took several months of coordinating with Key Bank, CHFA and HUD to get everyone to settle out so we could pass clear title...but eventually our short sale was approved by all the parties! Our ecstatic seller was finally able to move on from her problem house with over $40,000 of excess debt completely forgiven! 

Minna Reid was just who I needed to help me sell my home. She is highly experienced and knows exactly what must be done in order to sell a home facing foreclosure. Minna is diligent and knowledegable when dealing with the bank which are skills that not every realtor has. My only regret is that I did not find her sooner!

kelly t

Last Updated on June 13, 2022 by Minna Reid

About the author 

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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