Bellevue WA â€“ Sometimes it seems like short sales are tough. â€œDonâ€™t try to short sale your house. Short Sales never go thruâ€, people tell you.
That isnâ€™t true. Here is how one agent beat the odds.
A member of the Stop Foreclosure Institute told me about a short sale he recently worked on. Here is the story from the member.
â€œI had a short sale with a large national lender. The loan was owned by Fannie Mae, not the lender. We had an over zealous short sale negotiator.
We had the home on the market for several months and finally received an offer for $180,000. We submitted that to the lender with all the short sale paperwork.
The lender came back and said the price needed to be raised to $257,000 and the seller needed to sign a $50,000 promissory note.
Neither the buyer, nor seller would agree to those terms.Â At that point, the only alternative was to let the property go to foreclosure. ClickÂ HEREÂ to continue reading.