Short sale approved and closed in Hartford, CT with AHMSI - full waiver of deficiency.

Obtained a speedy contract on this latest short sale success story, then the usual bumps in the process, and eventual closing.

Appraisal came in 25k over our sale price. I was able to get American Home Mortgage Servicing Inc. ( AHMSI ) to come down 15k on their demands, and the buyer was willing to meet them in the middle.

All set with an approval letter in hand, it is revealed in an inspection that there is severe structural damage to one of the porches. We now have to go back to AHMSI in order to get a new approval letter allowing for $2000 in repair credits...which takes over a month.... I was actually VERY surprised that AHMSI and the investor allowed this, especially since the deal was a cash deal.

New approval all set, we closed this short sale in a few days following the new approval with a full waiver of the deficiency!

The details:

Sold price: $105,000

Allowed closing costs: $10,000

Net to lender: $95,000

Total owed: $280,000

Debt forgiven: $185,000

Need to sell your home? Why settle for less than 5 stars? 2011 and 2012 Five Star Connecticut Magazine real estate agent.