Clackamas Short Sale Case #10- (BROKEN) Option ARM Non Owner?
Location: Investment Property in Happy Valley, Oregon
Total owed: $678,890 on Option ARM 1st Mortgage negative Amortization loan
1st Mortgage $607,109 $548,000 original Loan Balance!! – Aurora Home Loans accepted $356,117
2nd Mortgage $71,781 $68,500 original Loan Balance!! – Countrywide accepted $6,000
Home was listed in October of 2008 at $475,000 and dropped steadily all the way [...]
Sherwood Short Sale Case Study #9- Divorce
When is a short sale really a short?
Location: Owner Occupied Property in Sherwood, Oregon.
Total owed: $320,241 on Bank of America formerly Countrywide 1st Mortgage interest only.
2nd Lien owed $103,682 on Washington Mutual
This short sale transaction came to us from a real estate agent not wanting to get involved. She attended one of our short sale [...]
Vancouver Short Sales Case #8/ Failed to meet Fannie Mae’s Net
What you need to know about Fannie Mae’s guidelines
Location: Investment Property in Vancouver, Washington
Total owed: $226,000 on Fannie mae 1st Mortgage interest only with one lien to deal with. Sometimes you learn more from a deal when you lose a home to auction. This post is to help educate everyone so they don’t repeat my [...]
