HOME SALE CHALLENGE:
When this North Haven, CT couple decided to move south for a new career opportunity, they found themselves upside down in their home and with no funds to make up the difference in a sale. With few options, they decided a short sale on their McCue FHA Mortgage was their best bet to move on gracefully and avoid foreclosure.
REID REAL ESTATE GROUP APPROACH:As the state’s leading short sale experts, here at Reid Real Estate Group we have plenty of experience working short sales with McCue Mortgage. McCue tends to be very inconsistent, taking anywhere from 2 months to well over six to process their short sales and requires constant pressure to make things happen. Also complicating matters was the fact that this FHA loan came with a partial claim with Novad. We prepared for a tough time ahead, knowing persistence was key to bring this short sale together.
RESULTS:Priced aggressively, the home went on market and within 12 days a strong buyer was secured. As expected, McCue became very difficult and unresponsive. Months passed as we were shuffled through negotiators and jumped through endless hoops. The partial claim required a variance from HUD. A solid 7 months passed until we had approvals from all and were ready to close. The buyers lender then had a few stumbling blocks of their own, but soon after approval this North Haven short sale closed, with the sellers being relieved of tens of thousands of dollars in negative equity and able to move on with their lives!
Last Updated on September 12, 2017 by Minna Reid