The Bittersweet Lightning Fast CitiMortgage Short Sale Approval

CitiMortgage Short Sale Approval

My jaw dropped this morning when I opened my email to see an approval letter for this short sale.....it only took THREE weeks!!! This is rare, as most short sales take 60 days to 6+months.

We should be THRILLED that it only took three weeks, right? Well, normally we would be BUT: Amazingly we are on our second buyer and may need to move onto another as the Buyer was counting on the typical 3-4 month approval timeline to save up some $$$!!

Plus, we've gotten used to all the sign calls we reap from extended short sales. BUT OTHERWISE, YES, we are DEFINITELY doing a happy dance!

Yes, Folks, it REALLY CAN HAPPEN!

Property location:

• Gilbert, AZ

Hardship:

• Job Loss, Relocation
  

Lender(s):

• One Fannie Mae Loan with CitiMortgage.

Purchase Price:

• $146k with 3% seller concessions

Amounts owed:

• CitiMortgage was owed $284,550 and agreed to accept a NET payoff of $118,000 (41% of the debt)

Terms:

• No note. No cash contribution. 30 day Close. 6% Commission.

Special conditions:

• Took 30 days to get under contract with a solid buyer.

• The Short Sale Package was submitted in it's entirety 1 time on December 24 (which may as well have been early January).

We should be closing in 30 days.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.shortsalemyphoenixhome.com

Jessica Sulliman & Randy Curnutt

REal Estate Needs. REal Life Solutions

602-677-7977

www.ShortSaleMyPhoenixHome.com

www.SunshineSpecialists.com

www.jessicasshortsales.com

About the Author...
This article was provided by Jessica Sulliman, a Nationally recognized Realtor and Certified Short Sale & REO Specialist. Jessica can be reached via e-mail at jessica.sulliman@ashbyrealty.com by cell phone or text message at 602-677-7977. Jessica has helped thousands of people buy and sell their home. For Arizona real estate and homes see www.sunshinespecialists.com or www.jessicasshortsales.com. For more info regarding short selling your home, please visit www.shortsalemyphoenixhome.com.

Specializing in the following Metro Phoenix areas in Arizona: Queen Creek, Gilbert, Chandler, Mesa, Scottsdale, Apache Junction, Gold Canyon, Tempe, Florence, San Tan Valley, Coolidge, Casa Grande, Eloy, Maricopa, Ahwatukee.