Here's an Acacia Federal Saving Bank short sale (preforeclosure) approval letter.
Quick Facts
Hardship: Loss of job
Days for Approval: 60 days for initial response. After the first buyer walked, it took 14 days for approval on the second offer.
Amount Forgiven: ~$175,000 with deficiency waived.
Missed Payment: Forced to miss one payment after the first buyer walked but mostly current.
Lessons Learned: Acacia takes little longer than other banks so staying on top of communicating with the bank is important. The first buyer walked after the bank countered the buyer's offer by 10%.
Here's the Acacia Federal Savings Bank short sale approval letter. On second page, the banks states "The preforclosure sale may have an impact on your income taxes. You should consult with your tax preparation professional. Additionally this transaction will be reported to the credit bureau as 'Settled in full for less than total payoff.'" According the attorney, this is a good letter.
If you have any questions concerning Acacia Federal Savings Bank short sale, contact us. We have proven record with Acacia short (preforeclosure) sale. We can help you with Acacia short sales in Virginia, Maryland, Washington DC and Illinois.
Simon Hahn - Keller Williams Realty
14155 Newbrook Drive Suite 100
Chantilly, VA 20151
703-662-1466 (Direct)
703-815-5700 (Broker)
