Short Sale

Foreclosure vs. Short Sale

In the past, it was rare that a bank or lender would accept a short sale. However, due to the overwhelming market changes, lenders have become much more negotiable when it comes to these transactions. Recent policy changes within many organizations have made the chances of getting a short sale approved even higher. The following information describes the short sale process: Homeowners are “short”...

Short Sale Package

All of the documentation needed to start a Short Sale is commonly called a “Short Sale Package” and is usually submitted by the seller of the property, the agent representing the seller, or the investor interested in the property. The package usually includes the following items: Cover Letter Authorization to Release Information to a 3rd Party (your Realtor) Seller’s Hardship Letter Seller’s...

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