I got a chance to talk with Chase Dandridge, a Legal Assistant who works at Charlie Pittman’s Firm in Kempsville (near Landstown Middle School). He shed some light on Short Sale changes.
They handle it from A-Z. They tell you the pros and cons. AND, they work their butts off.
Get this, “60% of their sellers are now getting money back at closing, depending on loan type.” WOW.
That is NEW. Anywhere from $1000-$35,000, which is extreme.
Also, some banks are now giving incentives to do a short sale-again depending on your loan.
Some people are barred from certain jobs.
And, it is more detrimental to your credit to do a foreclosure vs. a short sale.
It is $100 upfront and then $500 at closing. Realtor fees are covered by the bank.
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