The transaction was a HAFA short sale and the loan servicer was Select Portfolio Servicing. The sale price of this Alpharetta, Georgia townhouse was $195,000 with $1,500 seller paid closing costs. Ursula Lowther and her team at Homes By Ursula represented the seller and worked with SPS to complete the sale, which resulted in no deficiency for the seller.
A HAFA short sale is a government sponsored program to assist sellers with the sale of their home when they owe more than the home can be sold for in the current market. one positive benefit of the HAFA program for the seller is that any deficiency balance is waived at the completion of the sale and the seller will not be pursued for the shortfall in the mortgage balance. In some cases, HAFA also allows up to $3,000 to be paid to the seller to help to defray costs associated with moving.
A HAFA short sale is available to a person who is selling his/her primary residence and who has experienced a hardship that has made it impossible for them to continue paying their mortgage. This program is not designed for an individual who decides that they want to stop paying their mortgage because the home is no longer worth what they paid for it.
Every short sale (http://www.homesbyursula.com/
Although the residential real estate market in North Metro Atlanta has improved over the last few months, short sales are still happening. Short sales require patience and determination from all parties in order to close successfully. Whether you are selling or buying a residential short sale home, It is important to use a real estate agent who is experienced with short sales and who understands the process.
Ursula Lowther has trained real estate agents across Metro Atlanta on the entire short sale process and has closed many short sales with her team at Homes By Ursula, Inc.
The buyers financed the purchase with a conventional loan. The short sale was closed by O'Kelley and Sorohan, Attorneys at Law.
Homes by Ursula with Keller Williams Realty First Atlanta is a husband and wife real estate team serving Metro Atlanta. Ursula Lowther and her husband, Keith Lowther, have been selling residential real estate in Atlanta, Georgia (http://www.findhomesindecatur.com/