This was an investment lot near Asheville, North Carolina with a Bank of America loan. The final sale price was approximately 44% of the outstanding loan balance.
But that’s not the best part…the best part is that the short sale approval letter from Bank of America waived any right to pursue the deficiency balance and considered the debt settled. This is always the goal of a short sale, and it’s a great feeling to reach that goal on a property that is not a primary residence. Many thanks to all involved – the sellers, the buyers, the attorney, and the other Realtor!