USAA Approves Antioch Estates - Crestview FL Short Sale
By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
This home in Antioch Estates, Crestview Florida, was just approved for short sale. There were two liens, Bank of America and USAA. Don't moan and groan, Bank of America was the easy part of the approval! The market value of the Antioch Estates home was under $120,000, and the senior lien, Bank of America had a mortgage balance of about $150,000. Through negotiations, we were able to get a waiver of deficiency for the remaining note, and Bank of America agreed to pay USAA $6000 out of the net proceeds. The junior lien, USAA Federal Savings Bank was more difficult. That mortgage balance was around $80,000, and the $6000 offer from Bank of America was not acceptable to USAA to settle the account. Negotiations with USAA were lengthy, taking four days to respond to each request from ...
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