CT short sales with Bank United.
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Monday, November 28th, 2011 at 1:09pm. 276 Views, 0 Comments.
A CT Short Sale Success Featuring Bank United and Bank of America
1st with Bank United: $590,000
2nd with Bank of America: $120,000
APPROVED AND CLOSED: $470,000
This particular Killingworth, CT short sale, while rather fast, came with its share of tough hurdles.
Both lienholders demanded huge promissory notes from my sellers.
Bank United demanded a $33,000 promissory note from my sellers. After some negotiations, this demand was eliminated, and the first agreed to a full settlement on the account with no promissory note.
The second, Bank of America, had similar demands - They demanded not only the payoff from the first, but an additional $20,000 cash from my sellers at closing, and also a $25,000 promissory…