January 23, 2018

short sale approval stamp

Like many others in Connecticut after a divorce, these home-owners got stuck with a home neither wanted. With the home worth half of what they owed, a traditional sale wasn't an option and they were trapped! After several years as unwilling landlords, they decided to try a short sale - with extraordinary results!

Renting out property to "wait out the market" never seems to end well....

After a long term tenant ended his lease, the owners were once again stuck paying for and maintaining a vacant home, and funds were running dry! 

With bills piling up, and no tenant in sight, they decided it was time to try to cut their losses with a short sale!

After some preparation and professional photos - the home went on market, and the sellers were a tad closer to seeing the end of the tunnel! It took just under 2 months to secure just the right buyer and we were ready to work the VA short sale with McCue mortgage!

Short sales with VA (VA Compromise Sales) are always predictable, and generally have happy endings, and such was the case here!

It took just two months for us to get through the entire short sale process and much to our sellers delight, an approval was quickly delivered! Best of all, the sellers were fully forgiven of over $70,000 of mortgage debt!

Our sellers were absolutely delighted to finally be able to walk away from the upside down home that had been their burden for many years, and to do so completely debt free!

Last Updated on January 23, 2018 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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