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Loan Servicer: Suntrust Mortgage Services
Investor: Private Mortgage Insured
Date Listed: 7/28/10
Offer in to Lender: 8/14/10
Negotiator Assigned: 10/5/10
Approval Letter Rec’d: 11/30/10
List Price $165,000 – Price Approved – $165,000
Closing Cost Concessions: $0 - Buyer didn't ask for any.
This one seemed like it took forever!! But now that I see the stats on paper it only took 3 1/2 months from the time of submission to Suntrust to approval.
Remember those 2007 and 2008 tax law changes? http://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Tax-Relief-for-Cancelled-Mortgage-Debt/INF12033.html
When a short sale in 2007 through 2012 involves a principal residence, the cancelled debt is not considered taxable income (certain limits apply see your lawyer or tax advisor).
2012 IS CREEPING UP ON US, CALL THE PHOENIX METRO GROUP YOU ARE CONSIDERING A SHORT SALE.
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