Congratulations to our home owners! Today they received a full approval in less then 45-days. This went very fast but not without its challenges. CCO initially requested a $63k promissory note be signed by the home owners in order for the approval to be supplied. Thankfully after reviewing the home owners finances with the bank they acknowledged that this request was not supported by the home owners available finances. CCO removed the request for the $63k promissory note and released the home owner of all responsibility to repay any of the uncollected balance, the deficiency.
Congratulations go out to the home owners as they are able to now start the rebuilding process, to the buyers getting a wonderful home and to Celia Rivera on our team for doing a superb job negotiating this for everyone involved.
If you know anyone needing help with a short sale or they just need someone to talk to about their options please keep us in mind. We are always available to work with home owners needing information about their options.
