The Short Sale had only one Lienholder. Therefore this Simi Valley Short Sale only had to be approved with Bank of America. The original list price was $315,000 and it closed at $268,000. This was a VA buyer and he received a full 3% for closing costs from the bank. This short sale took 346 days from the day it was listed to the day it closed. But once approval was received we closed the VA loan in 28 days.
Many Simi Valley mortgages now exceed the fair market value of the home. With the prices of Simi Valley homes not increasing like in the past and the interest rates on some of the loans resetting, some home owners are having trouble paying the mortgage. Home owners have no choice but to get with the lender and negotiate with them to take less on the sale of their home. The seller has to prove a hardship with the bank, such as job loss, divorce, illness, death in family proving the monthly mortgage payments are impossible for the homeowner to pay. The home owner hires a Short Sale Specialist Realtor such as JoAnn Levine and her team to sell their home and negotiate the sale with the bank.
JoAnn Levine is an award winning Realtor® with Keller Williams Realty, Westlake Village in Westlake Village, California. She serves Simi Valley, Moorpark, Thousand Oaks, Westlake Village, Camarillo and most of Ventura County and parts of Northern Los Angeles County.