Another RI Short Sale Closed with Full Deficiency Waiver

Another Rhode Island Short Sale Closed with Full Deficiency Waiver for Seller


Another RI Short Sale Closed with Full Deficiency Waiver

This West Warwick RI home at 61 Country Drive is renovated, move in ready with 3 bedrooms and just found the lucky buyer.  Priced to be in agreement, proceed through short sale quickly and sell.  The goal was achieved in less than 3 months.

Short sales are not always an easy process and this one the seller’s lender required the buyer of this RI real estate home to up their ante in purchase price to buy the home.  Knowing that the market value was worth more the home buyer complied with the bank, qualified through their lender for the extra mortgage loan and were ready to say YES to the house.  Realize that short sales no longer sell for below market value in Rhode Island.  The lenders want full market value in price offered for the house in order to get a RI short sale closed.

Another RI Short Sale Closed with Full Deficiency Waiver

The seller was granted a $1000 moving check from her lender at settlement and a full deficiency waiver on her mortgage.  What is the deficiency waiver you ask?  It is the difference between the mortgage owed on the house by the seller and what the buyer was willing to pay that is forgiven.  The dollar difference through negotiation by the seller’s real estate agent is waived by the seller’s lender in this case.  Waiver of deficiency judgment is the goal of this RI short sale agent and another successful close with it is achieved.  Without obtaining this deficiency waiver the bank can come back later and come after the seller for the monies they lost by settling for less than owed on the mortgage.

If you are a RI homeowner still struggling with your mortgage due to hardship, medical reasons, relocation for job, divorce, etc. and do not know what to do about your home, please call me at 401.529.7849 today.  A short sale may be your best avenue and recovery in credit is much faster.  In fact, I have had clients who have gotten back on their feet and have been able to buy another house after a year following a short sale.

This home has over 1000 square feet of above living space with renovated galley kitchen, dining area and room, sweet living room with bay front window, renovated tiled bath, spectacular hardwoods throughout.  New refrigerator, stove, microwave and dishwasher await you.  New windows, roof, heating system and central air plus large garage attached to sun porch and breezeway.  Full downstairs finished for a media room too.

Location is huge here being in the heart of Cowesett and just a minute to Bald Hill Road and shopping.

If you are a home buyer think you should call me about previewing this West Warwick home for sale?  Not anymore it is closed and sold but more will come on the market soon.  Have your pre-approval in hand …so call me today at 401.529.7849 or email me at

Looking for RI homes for sale?  Work with a proven real estate agent that guides and negotiates well for you.  It is a must in these real estate times that you are protected well.  Whether you are buying or selling in the RI coastal real estate market, I would love the opportunity to earn your trust and business.

Another Rhode Island Short Sale Closed with Full Deficiency Waiver for Seller


Ginny Lacey Gorman is your go to Rhode Island real estate agent for North Kingstown RI real estate and beyond…knowing the geographic area, schools, happenings and important tidbits of local information.  Email me at to make an appointment to find the home of your dreams too!
Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard. When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells houses in this real estate market call Ginny at 401.529.7849.

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