Another Bank of America Short Sale in Minnesota Closed with No Deficiency to the Seller
Minneapolis, MN, November 02, 2013 --(PR.com
)-- Steve Wilhelmy of Wilhelmy Homes with Keller Williams Classic Realty Northwest helped a homeowner who had an underwater mortgage with Bank of America short sale their home in three months' time from list to close. To top it all, there was no deficiency judgement to the seller, thanks to the Mortgage Forgiveness Debt Relief Act the seller will not have to pay taxes on the forgiven debt, and Steve even helped the homeowner to receive a nominal check at closing as a homeowner incentive to help with moving costs.
It was a very smooth process from start to finish, with no snags. The property went under contract after a less than a month on the market and Steve hit the ground running in negotiations with Bank of America.
It's good to see that there are other options to foreclosure for homeowners out there as many homeowners end up going into foreclosure when they thought it would never happen to them.