$179,000 Discount

Joy came to us a month before her sale date. She had a first mortgage for $364,000 and a second mortgage for $91,000 both with First Franklin.
The court had awarded First Franklin $393,347.63 on the first Mortgage. After contacting First Franklin, we submitted our Short Sale package. First Franklin then ordered the BPO (Brokers’ Priced Opinion) and we started the real negotiations. We received our Short Sale approval just days before the court sale. The deal was approved and was successfully closed netting $305,000 to First Franklin, $292,500 to pay off the first note and $12,500 to pay off the second note. Buyer paid all closing cost.
Note: During the negotiation process with First Franklin, we were fortunate and thankful to have our file assigned to Tim Devita. Tim was a pleasure to work with and extremely responsive. He shared our sense of urgency and compassion in resolving the hardship of the homeowner and was so instrumental in making the deal happen. Thanks Tim