Successful Short Sale Dateline Stockton, CA June 20, 2010
Great results! I ended the week with a successful close on a Wachovia short Sale in Stockton. Bob and Rose came to me 2 months ago with an adjustable rate mortgage (ARM) that was out pacing their income and growing families needs. They were under a great deal of stress and were struggling to pay their bills and were headed to defaulting on their mortgage. They had tried mortgage modification and hired a mortgage modification firm paying $2,500 up front. Bob and Rose found out it was a scam and the mortgage modification is under investigation by federal authorities.
Rose called me after reading one of my letters and called me. I met with them the next evening one of their chief concerns was being taken advantage of again. I assured them that I charged no upfront fees as a Realtor and was only paid by their lender at the close of escrow. We put the property on the market and had an offer within 6 days and closed in 45 days. We negotiated with their lender and were able to get them an approval without a deficiency judgment, with the lender paying all the fees, and without tax liability. Bob and Rose are now free of a bad situation, have reduced the impact on their credit and they received $5,000 to help them with their move.
The Stockton and Lodi California Real Estate Market has been devastated by foreclosures and home owners are looking for an answer short of foreclosures. In many cases that is a short sale. Short sales are rapidly becoming the dominate source of Homes for sale in Stockton and Homes for sale in Lodi.
The Hugh Lilly Real Estate Group at PMZ Real Estate are Short Sale Specialists and REO certified and have negotiated successful short sales Call Hugh at 209-479-92222 or e-mail hlilly@pmz.com and ask for a free consultation and plan customized to your unique situation.