Issaquah, WA Condo Owners Avoid Foreclosure with Successful Short Sale.
Loss of Job Finds Homeowners Unable to Pay Mortgage
When Benjamin was laid off from his job as an ironworker, he and his wife Andrea started falling behind on their mortgage payments. They owed Green Tree Servicing more on their condo than it was worth, and soon realized that they didn’t have the resources to catch up with their payments. They also knew that the foreclosure clock was ticking.
Short Sale Allows Homeowners to Avoid Foreclosure
Benjamin and Andrea wanted to avoid foreclosure. With money so tight, they didn’t have the funds to pay an advisor to help. It was important to them to have all their debt forgiven so they could make
a fresh start. Washington Property Solutions provided them with a free real estate attorney consultation so they could evaluate all their options. Benjamin’s job loss qualified as a short sale hardship. They decided to request a short sale from their lender.
Green Tree Wipes Away All Mortgage Debt
They owed $231,000 on their mortgage. We were able to negotiate with Green Tree to approve a short sale and accept the $128,000 in proceeds from the sale as full and final settlement of their debt. Benjamin and Andrea were released from ever having to pay any of the remaining balance. And there were no out-of-pocket costs to them whatsoever throughout the entire process.
Homeowners Receive $3000 in Cash Incentives
There was an added bonus: They also received a check for $3000 as part of the federal government’s Home Affordable Foreclosure Alternatives (HAFA) Program. HAFA provides cash incentives to encourage homeowners to do a short sale and avoid foreclosure. It can be spent however the homeowner sees fit. Benjamin and Andrea had a down payment on a fresh start.
SHORT SALES RESULTS:
- Short Sale Approved
- Full Satisfaction of $103,000 in Mortgage Debt
- Debt Permanently Forgiven
- $3000 Cash Incentive Paid to Homeowner
If you’re underwater on your home mortgage and need to sell, it’s essential to have the right broker advocating on your behalf. Short sales are complicated transactions. Working with a broker experienced specifically in the short sale process in Washington State ensures your sale will go smoothly.
Washington Property Solutions is the state’s leading short sale solution provider.
We offer a proven success rate, a team of seasoned Windermere short sale experts, and a depth of experience with lenders across the country that is unmatched. The bottom line: We get your home sold.
Call us at 425-381-2233, or email us
to schedule your no-cost, confidential, short sale consultation
Other helpful resources:
- About Our Free Attorney Consultations
- Information about the HAFA Program
- The Benefits of a Short Sale Over Foreclosure
- Short Sale FAQs
- More Testimonials from Our Clients
- Read More Short Sale Success Stories in King County, WA