| Case Study | Lender |
| Original Price (Jan ‘06): $507,000
Short Sale Price (March ‘11): $227,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $280,000!!! Result:Since she was current on her mortgage a mortgage lender was able to get her into a new home for $306,000 after the closing of her short sale. She contributed $9,700.00 to settle the debt, and also received a waiver of future liability/deficiency. She pulled her credit a month later and Bank of America showed that the home had been paid off and her median credit score was 755. She is ecstatic with the results and she stated it was well worth it. |
First Second |
| Original Price (March ‘06): $431,000
Short Sale Price (July ‘11): $179,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $252,000!!! Result: Since she was current on her mortgage a mortgage lender was able to get him into a new home for $275,000 after the closing of her short sale. Seller contributed $5,000.00 at closing towards the first. |
First Second |
| Original Price (June ’07): $445,000
Short Sale Price (April ‘11): $224,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $221,000!!! Result: Homeowner/Seller contributed $8,700 at closing. |
First: Citimortgage/NCO |
| Original Price (June ’04): $337,000
Short Sale Price (Feb ’11): $215,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $122,000!!! Result: Homeowner/Seller contributed $4,600 at closing.. |
First:
Second: |
| Original Price (May ’07): $430,000
Short Sale Price (March ‘10): $197,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $233,000!!! Result: Homeowner/Seller did not have to contribute money or sign a promissory note.. |
|
| Original Price (July ’05): $435,000
Short Sale Price (Feb. ‘11): $225,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $210,000!!! Result: Homeowner/Seller did not have to contribute money or sign a promissory note.. |
|
| Original Price (Dec ‘07): $296,000
Short Sale Price (March ‘11): $125,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $171,000!!! Result: Homeowner/Seller did not have to contribute money or sign a promissory note.. |
|
| Original Price (March‘06): $753,000
Short Sale Price (May ‘11): $325,000 NO DEFICIENCY / NO FUTURE LIABILITY SAVINGS: $428,000!!! Result: Both buyer and seller contributed $5,000 at closing towards the second, and Seller has a $15,000 promissory note for the next 10 years at 3.75% with monthly payments of $150.09. |
First:
Second: |