Dumfries Virginia Short Sale Approved by Capital One!
Our clients owed $304,464.72 on their mortgage through Capital One and the market could not support this price. The bank agreed to short sale the property and take the buyer’s offer of $229,000.00 planning to settle by the end of August! The deficiency rights have also been waived which means that Capital One will NOT go after the seller for the unpaid balance on their mortgage.

Is a Short Sale right for me?

Mortgage lenders are increasingly willing to work with borrowers faced with a financial hardship to accept a discounted payoff on a mortgage. If you are faced with a hardship that makes it likely you will be unable to meet your obligation on your mortgage, your lender would prefer to settle the matter with you as opposed to taking the property through foreclosure. As you consider the option of pursuing a Short Sale, remember your lender is looking to limit any potential loss on your loan. By completing a Short Sale, your lender has arrived at a solution that is, for them, much better than a foreclosure. Bottom line, your lender wants to work with you.