Many homeowners are still underwater today, whether from back "before the bubble popped" in the mid-2000's, or maybe even after the fact, from refinancing. Either way, navigating a short sale for homeowners in Tampa Bay can be a very ugly process.
While almost all short sales are still a trying and lengthy process, Shakespeare once said, "all's well that ends well." And this is no different for one Port Richey homeowner that was underwater on his mortgage still. After successfully negotiating an above list price contract in only 1 day on the market, Josh Parker & his team at Profusion Property Group were successful in facilitating a short sale on not one lien, but two. With the second lien being a "HELOC" (Home Equity Line Of Credit).
Their team is comprised of a fantastic short sale facilitator, Laura Hebein at National Title Solutions, Inc. who assisted along the way to push Bank of America to approve and accept the short sale. Once approved by Bank of America, the task was then shifted to securing an approval for the HELOC from CitiBank. You guessed it, they were successful in obtaining a full release of lien from Bank of America and CitiBank, both. No promissory note to the homeowner, and no cash required at closing, either.
To say that the homeowner was elated, would be an understatement; see for yourself:
Thank you for everything you have done for us! Words cannot describe how your efforts have helped Lynn and I move on to a wonderful future. Your work has changed our lives for the better! I will not hesitate to recommend your team to others in the future. Thanks so much for your dedication, and determination to get this done for us!!
With much respect,
If you, or someone you know, is still underwater and is thinking about just giving their house up for Foreclosure, you should send them this article and tell them to reconsider. There are professionals who can help to mitigate the losses, as well as future damages to the homeowner's credit and financial well-being. Some homeowners may even qualify for a relocation assistance program through their lender. For more details, contact Josh Parker & the Profusion Property Group at www.profusionpg.net/sell to find out what the property is worth & to discuss your short sale options!