Stratford CT FHA short sale success! - Reid Real Estate Group
January 31, 2022

Stratford CT FHA short sale success!

ct short sales

Out of money and out of  time!

After years of struggling to keep up with his mortgage payments unsuccessfully, this Stratford homeowner decided it as time to cut his losses and attempt to avoid his upcoming foreclosure by pursuing a short sale. 


Challenges:

Although FHA loans have very predictable, clean  short sale process (FHA PFS), Freedom Mortgage can be a nightmare to deal with.  Several judgment liens against the property were also an additional complication to getting to approval.

The Process:

The home was listed and in this stellar sellers market, a buyer was quickly secured and the short sale process began. As usual, Freedom Mortgage proved to be slow in moving along. Months passed as we pushed the short sale along, while negotiating settlements with the junior lienholders, and postponing the foreclosure sale date.

Short Sale Approval!

It took a total of 5 months, but in the end, this Freedom Mortgage short sale was approved, the junior liens settled, and the seller closed on his overleveraged home even walking away with a $3,000 relocation assistance check!

"Minna was fantastic! I highly recommend her to anyone about to dive into the shark infested waters of a short sale. She made the whole ordeal bearable. She was very helpful, knowledgeable and she has a great sense of humor. Thank you, Minna!" ~B.W.

Last Updated on January 31, 2022 by Minna Reid

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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