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Wanted to share some good news...

I wanted to share some good news, and hopefully I will not jinx anything!!

We heard back on the short sale today and they accepted our (low ball) offer!! It is only for the primary mortgage, however, we are still waiting on the secondary mortgage. But the realtor said this is a huge hurdle since they owed over $200k on the first one.

However, there is still some money leftover after the first mortgage gets paid off for the second one to take, so this might help the situation....plus their 2nd mortgage was down to $25,000...so I am hoping that a $5000 payoff is enough for them:) Now we just have to wait and wait again, hopefully we will hear something in the next few weeks regarding the 2nd mortgage.... It is with thesame bank, so they probably want to help their "own" bank close the deal (that is my uneducated on short sales and banks thought)

I'm so excited but I am trying not to get too hopeful, because anything good go wrong between here and there- but we are starting to see the light at the end of the tunnel.

Re: Wanted to share some good news...

  • Fingers crossed for you guys!!!!!!!
    Wife, mom, attorney, blogger, runner - trying to learn to love all the good things in life!!
    "It's not a sprint, it's a marathon." - Alex & Ani bracelet
    My blog: Dodging Acorns
  • Good luck!
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  • Yay, hope the bank gets back to you about the 2nd mortgage quickly! If they are only losing $20k on a short sale, I'd guess they'll take the offer. Most short sales I've heard of had a much bigger difference between what was owed and what it sold for.
    Baby Birthday Ticker Ticker 
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  • thanks! I am excited but trying not to put all our eggs in this basket.

    The listing agent seemed to feel confident we would hear back before the Holidays etc.

    I already started looking at paint colors and DH scolded me and said not to get my emotions in it- but its a big hurdle so I had to at least share the good news!!

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