I have another successful Short Sale closing. This one took 5 months to close, but buyer is patience enough to go through the long process.
Property: Triplex, 3/2, 2/2, and 2/2 units, Stockton California.
Liens: Mortgage with Provident Funding for $270,000.
Hardship: Balloon Mortgage, sellers did not have upfront cash, refinance is not an option since market value is only at $130,000.
It was a good buy, net rental at $2200 /month with the mortgage of $515/month. The property was sold for $130,000 and Provident Funding accepted $119000 on $270,000 that was owned (or 44 cents on the dollar).
Do you need help with your San Jose Short Sale? You can email me at alan@i2realty.com or call 408-835-7743
