Short sales with BB&T - Branch Banking and Trust Company
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Tuesday, February 14th, 2012 at 8:16am. 741 Views, 0 Comments.
BB&T – Branch Banking and Trust Company is a rather small lender. This particular loan was an FHA loan, which has its advantages to the short sale seller.
We submitted the short sale packet as the property went on market. It took over two months for BB&T to take real action on the file, which happened to coincide with the time we secured a strong cash buyer for the home.
To our surprise - the short sale approval arrived just over a week later, and shortly after we closed.
APPROVED AND CLOSED WITH FULL DEBT FORGIVENESS: $83,000
FHA SELLER INCENTIVE: $1,000
TOTAL TIMEFRAME LIST TO CLOSE: 3 MONTHS