Just added myself to the http://wefollow.com twitter directory under: #shortsales #foreclosures #realestate
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looking at a HomeQ short sale approval..taking 148,000 when 254,000 is owed. (150,000) proposed loss Now thats a Nebraska butt kickin …
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HAPPY VALLEY SHORT SALE CASE STUDY
Location: Rental Property in Happy Valley Oregon
Total owed: $612,000
-1st Mortgage Owed: $489,600
-2nd Mortgage Owed: $122,400
Owner had the property had burned through 2 agents before contacting Coastal Mitigation Partners.
Our initial offer came in from an investor partner of ours at $300,000.
We brought this client to one of our preferred realtor partners gift wrapped just in time for Christmas 2008. They listed property mid January 2009 and found a buyer at the end of February 2009. It took us 30 days to get reassigned to another mitigator. We learned that this lender has to close the old file before the new buyer offer comes in, then a new case is started. Another Broker Price Opinion (BPO) had to be ordered to check falling value. Happy Valley seems to be a foreclosure death trap these days.
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