Short Sale?
Short sales can be a challenge and is not always an easy process. There are several steps that need to be followed. When you as a homeowner cannot afford to make payments there is a an alternative to avoid bankruptcy or forceclosure. This option is called a short sale. More and more in todays market there are homes being sold via short sales and this has become a more common way selling your home when facing a crisis situation such as losing your home.
We have helped many homeowners avoid foreclosure and have helped them sell there home without the embarrassment of their home being foreclosed on.
The term “Short Sale” is used when lenders are willing to accept less than the total amount due. Every lender will not accept “Short Sales”, each scenario is different. All homes or homeowners will qualify for a short sale. If you are facing this kind of situation you are best contacting us so we can set up a time to evaluate your situation.
Documents we need to help you:
1) Authorization for us to talk to your lender – We typically have these forms for you to complete.
2) A copy of your loan statement.
3) A hardship letter – this is a letter explaining why you cannot make the mortgage payment. An example of a hardship could be a loss in job, or a pay decrease.
4) Last 2 pay stubbs for each person on the loan.
5) A financial worksheet – This is where you will write down all of your expenses such as gas, utilites bills, food cost etc for each month.
6) Copies of your last 2 months bank statements.