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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.

First, do you qualify?
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 us today. -Toll free 800-605-4221 Ext.2.  You can also join us for

  FREE SEMINAR/ CONSULTATION HOUR:
Thursday Feb 24, 2011 at 6:30PM

RE/MAX Platinum-

Brighton Auditorium

We 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!