This short sale success story is special to us. This couple had not only lost their job but had mounting medical bills as well as taking additional responsibilities as caregivers for some of their Grandchildren. It was one of those short sales in Buford that we just say, ironically, “Praise the Lord for short sales.”
The lender was M&T with Bayview Servicing servicing the loan. Even with a clear hardship this short sale faced several problems. They expected the clients to make payments as part of their own “short sale initiative” claiming that the loan was a Freddie Mac Non-GSE loan, which in their words meant they could do what THEY wanted to. In addition Freddie Mac’s ridiculous BPO process provided us with a value that would reflect the home’s value in the year 2020.
We disputed the BPO value, got more documentation and eventually closed this home right before the foreclosure date. It was no small feat, but thanks to God’s favor, a willing and determined seller, we got this one done and kept our success ratio in the 90%!