The first mortgage holder took the entire loss in this case. We were able to ensure no promissory note, no deficiency judgment despite significant retirement savings. The total out of pocket expense for the seller is the 2.5% of loss mitigation fee.
“Tom and I would like to take a moment to say “Thank You” for your assistance in getting our home sold for us. Though it felt like it was a long time coming, once all the paperwork began making it’s rounds, time began to fly, and now, we are settled back in our old home, and a very nice young lady has fallen in love with the home we sold. I must concede that the outcome was truly worth the wait. We are very pleased with the work you both put in to getting this settled, and will definitely keep you in mind for other people who may fall into the same situation as Tom and I did. What a blessing to know there are agents who put their heart in their job and really work for their client to get the best result possible. We can’t thank you enough!” – Tom & Theresa W.
