Thursday, May 13, 2010

FHA Short Sale Approved – Pre-Foreclosure Sale Approved by JP Morgan Chase in Sterling, VA (Loudoun County)

Homeowner owes more than his home is worth, and since it is an FHA loan, this short sale took a little longer than others to get approved. This homewoner needed to avoid foreclosure on his home on Colonial Avenue in Sterling, VA. Chase has agreed to do a short sale with proceeds paid out to HUD, but with stipulations you can read below. One very positive highlight is, they’ve agreed to pay an incentive to the homeowner for closing the deal quickly – $1,000 at closing payable to the seller. The letter can be hard to read, so if you have any questions, feel free to call me at 703-400-6757 or email me at . If you know anyone I can help, let me know!

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