Chase - Freddie Mac - Short Sale, Navarre Florida - Approved
By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
This waterfront home in the Holley area of Navarre Florida was just approved as a short sale. The log home needs some work, is on over two acres, and on a bayou leading to East Bay. It went under contract in 74 days. Here are the details of the Chase short sale approval. Lienholder: Chase Other Liens: none Original Mortgage: Appr $280,000 Market Value: Appr $128,000 Approval Time: 90 days Notes: This Chase short sale had to go through layers for approval. The seller was originally offered a Freddie Mac HAFA short sale, which was later denied by Chase. Subsequently, it was approved by Freddie Mac, and also a mortgage insurer (MI) for a cash contribution from the seller of $1500. Why? The seller made a good income. What was the end result for the seller? Complete waiver of deficiency...
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