5 Steps for a Successful Short
Sale
Lenders and the federal
government, prompted by the sheer volume of loan modification and short sale
requests, have overhauled their systems and programs, making the foreclosure
avoidance process much easier than in the past.
If you are
considering short selling your home to avoid the financial and emotional
fallout of foreclosure, you should be aware of the five steps you should take
to increase your chances of a successful transaction.
You must:
- Have a verifiable hardship, like unemployment, medical bills, or relocation
- Must have a monthly income shortfall
- Be insolvent (you have no cash or assets that can be sold to pay down the mortgage), or headed towards insolvency
If you meet these qualifications,
follow these five steps to a successful short sale:
- Contact me so we can identify your servicer, fill out a short sale packet for the lender, and assemble all the required information needed to list your home for sale
- Gather financial information (i.e., bank statements, pay stubs) from at least the last three months
- Keep your house in showcase condition for showings, and make as many repairs as necessary and that you can afford
- Expect the lender, junior lien holders, and private insurance companies to request more paperwork, and try to gather requested information quickly to ensure transaction efficiency
- Set realistic expectations and work with me, the lender, and the buyer to the satisfaction and benefit of all parties involved
For more information about how the
short sale process works, or about any other foreclosure alternatives you may
qualify for, call me today. I can help you alleviate the burden that the threat
of foreclosure brings, and we can develop a strategy to help you breathe a
little easier.
561-843-7010
Zakihomes@gmail.com
1906 Clint Moore Rd. Suite #6
Boca Raton, Fl 33496
www.HomeFinderInFlorida.com
IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with
us at any time. You may accept or reject the offer of mortgage assistance we
obtain from your lender (or servicer). If you reject the offer, you will not
have to pay us for our services. The above brokerage is not associated with the
government, and our service is not approved by the government or your lender.
Even if you accept this offer and use our service, your lender may not agree to
change your loan.
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