Jim McCormack, a Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville, Clarksville and Middle Tennessee (Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson Counties) Short Sale and Foreclosure REALTOR, Real Estate Expert and Real Estate Investor was able to get this Antioch Tennessee (in Berkeley Hall Townhomes) FHA short sale listed and closed in 309 days despite an initially uncooperative short sale mortgage lender. Jim was able to get this Antioch TN FHA short sale pre-approved and ready to sell due to the following reasons:
- Proper research and work prior to marketing the home for a sale. This includes researching the loan type and correctly packaging and handling the seller's application to the HUD Preforeclosure Sale Program (see my blog post FHA Insured Loan Foreclosure and Short Sale Process for information about this short sale program).
- Understanding the FHA short sale and offer approval process.
- A reasonably accurate re-appraisal by the bank (Regions Mortgage). The original appraisal by the bank was $107,000 and made the property impossible to sell. After pushing the short sale lender for a re-appraisal for over 10 months and providing them proof that the original appraisal was wrong, the lender finally did re-appraise the property for $75,000, which finally allowed for a successful short sale closing.
- Despite a difficult and uncooperative short sale lender, Jim never gave up. Sometimes with short sales simply outlasting the short sale mortgage lender or bank is the best way to get a short sale approved and closed.