The Gutting Group successfully helped 2 homeowners prevent foreclosure this week.  Both homeowners were upside down (owed more than their house was worth).

Homeowner in Fishers, Indiana owed $156,000, we sold home for $120,000 and got the bank to waive all rights to collect any future deficiency.  The homeowner was several months behind on his mortgage payment, but can now say, he does not have a foreclosure on his credit and no longer has this debt to worry about.   Closed on July 26, 2011.

Homeowner in Noblesville, Indiana owed appx $120,000.  We sold the home for $65,000, successfully negotiated with the first lien holder to waive all right to collect the deficiency in the future.  The 2nd mortgage agreed to release the lien, but was not willing to release the homeowner from a possible future collection.  However, they did not require any cash to close, nor did they require him to settle and sign a promissory note.  Odds are, the bank will never come looking for him.  Closed on July 27, 2011.

2 homeowners this week in which we saved their credit from disaster.  While the short sale business is a difficult business and adds a lot more to the plate of an already busy real estate agent, it sure is rewarding helping homeowners prevent foreclosure and save their financial health!  

Heres to a speedy credit recovery!!

Derek Gutting, The Gutting Group, Keller Williams Realty, www.GuttingGroup.com