Do you owe more than your property is currently worth and need to sell? If so a real estate short sale may be the service that you need as it is possible for a NO FORECLOSURE TO APPEAR ON YOUR CREDIT HISTORY.
What is Short Sale?
When the owner owes more than the property is worth, but they need to sell. In a typical situation the mortgage lender will require the owner to come in with the difference in the amount owed. A real estate short sales is were I negotiate with the lenders to accept a pay-off that is less than currently owed and do not have to pay the difference.
What is Required for a Real Estate Short Sale?
In order for me to get a real estate short sale accepted for your property, you must first list your home for sale. During the listing period, you will need to provide the following documents/package to me making the short sale presentation to the existing mortgage lender(s).
Documents usually required for Real Estate Short Sale
Gather the following:
Last two years tax returns with W-2's and any tax schedules Most recent two months of pay-stubs Most recent two months of bank statements for all your accounts, include retirement & 401k Current mortgage payment coupons for existing mortgages Copy of original mortgage note and deed of trust
With these documents and a "Hardship Letter" from you the homeowner, a package is completed to show why you require a real estate short sale. This information is submitted to the lender's appropriate department together with an offer to purchase the home.
Who Can Qualify For A Real Estate Short Sale?
Typically, the mortgage lenders will only accept a real estate short sale if they are at least one month behind on their mortgage payments, have a ready and willing buyer and they are unable to debt service all of their existing liabilities. Also, if their financial situation has changed and they are currently making less money than before and they have no more savings, they most likely will qualify for a real estate short sale. This is the reason why the above documents are needed to paint a clear financial picture of their current situation.
If you are someone who needs this service don't wait any longer, call me NOW! 818-470-2435
