Port Dixie, Shalimar Florida Short Sale Approved – Seterus and CCO

 Shalimar short sale approved

This home in the Port Dixie neighborhood Shalimar Florida has been approved for short sale. There were two mortgages, Seterus(formerly LBPS), and CCO Mortgage for a total encumbrance of about $227,000. 

Senior Lien:  Seterus
Balance:  $190,000
Junior Lien: CCO
Balance: $37,000
Property Value: $140,000

This short sale was approved by Seterus in just four weeks. They allowed 6% of the junior lien balance to be paid to CCO. CCO took 120 days to approve the sale. Their reason for the delay was understaffing.  They required the seller to make a payment prior to closing.  Both lenders issued a full waiver of deficiency.  After approving the short sale, Seterus changed the locks on the house anyway.  This required a counter-lock change to give buyers access to do their home inspections.  All in a day’s work.

If you are considering short sale to avoid foreclosure, contact a Shalimar short sale agent.  We can write your success story together.

It’s Wendy!

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