Another Seterus Short Sale Closed In Lake Mary Florida

May 2, 2012 - PRLog -- The Sold Home Solutions Group just closed a Seterus short sale. There were two Lien Holders, Seterus in first position and Suntrust in 2nd position. The property was listed for $175,000.00 and sold for $190,000.00 where the purchaser had FHA financing and received a 3.5% contribution in closing costs from Seterus in this short sale. The Seller received an approval letter with no deficiency language. An approval was obtained 90 days after the final buyers agreement was accepted and closed 30 days after approval.

Lien Holders – 2 - Seterus and Suntrust
Original List - $175,000
Sales Price - $190,000.00
Sold Terms – FHA Financing
Deficiency – Waived by both Seterus and Suntrust
Seller Cash Contribution - $4750 to Seterus and $3100 to Suntrust (paid by Seterus)
Total DOM - 25
Total # of offers negotiated - 2
Days to approval - 90
Days to close – 30

Many Orlando, Lake Mary, Winter Springs, Longwood, Sanford, Apopka mortgages now exceed the fair market value of the home. Negative equity has become an increasing problem for the nation, but is excessive in the Orlando area. With the prices of Orlando area homes decreasing, and the interest rates on previous subprime loans increasing, many Orlando home sellers have no choice but to negotiate with the bank to take less (also known as a “short”) on the sale of the property. The seller proves a hardship to the bank which could include divorce, loss of income, health issues and other various situations proving the monthly mortgage payments are impossible for the homeowner to pay. The home owner hires a Real Estate agent, such as The Sold Home Solutions Group, Short Sale Agents to sell their home and negotiate the sale with the bank.

The Sold Home Solutions Group offers a tool called The Short Sale Or Stay Calculator. This tool can be used to help a Homeowner in Florida receive an instant estimate on what their home is worth in Florida. They can enter their mortgage payoff and use this math to decide whether to consider a Las Vegas Short Sale or Stay. This tool can be found at http://www.ShortSaleCalc.Info

The Sold Home Solutions Group is an award winning team specializing in Distressed properties - specifically Orlando Florida Short Sales as well as residential real estate in Lake Mary, Longwood, Winter Springs, Winter Park and East Orlando. Reach The Sold Home Solutions Group at 407-617-7808.


407-617-7808 - When Ready to sell your Orlando Home - if you owe more than the mortgage, we can help. Call us to discuss short sale options. Lake Mary Short Sale Specialists with Keller Williams Realty.



We are the Premiere Short Sale Team in Central Florida. We specialize in gettting homes sold in which the owner owes more than the home is worth, without the owner bringing funds to the table.
Building a business is all about doing something to be proud of, bringing talented people together and creating something that’s going to make a real difference to other people’s lives. One philosophy that separates us from the rest is that we don't focus on profit but rather on customer satisfaction and the end result of a "SOLD" sign in your front yard. It's that type of thinking and "mindset" that puts us at the top of our industry. We believe that if a businessperson sets out to make a real difference to other people’s lives, and achieves that, he or she will be able to pay the bills and have a successful business to.Contact us today at 407-617-7808. We look forward to serving you!