Short Sale Information
WE HANDLE ALL BANKS, INCLUDING BANK OF AMERICA, WELLS FARGO, WACHOVIA, CHASE AND MANY MORE.
IF YOU HAVE A WACHOVIA / WORLD SAVINGS LOAN, THIS IS THE FASTEST WAY TO TO A SHORT SALE.
THEY OFFER THE FOLLOWING:
-Completed Financial Statement & Hardship Explanation
-Most recent checking & savings account statements for all borrowers
-Proof of all sources of household income, such as most recent pay stubs. If self-employed,
profit and lost statements for the last two quarters along with your most recent federal tax return
-Last two years tax returns.
-Any other documentation or information you feel may be relevant to the situation
-Documentation showing the complete listing history (Listing Agreement)
-A sales contract signed by buyer & seller, subject to lender approval
-An estimated settlement statement showing all proposed seller paid closing costs
-Proof of Buyer's financing (i.e. - pre-qualification letter, etc.)
The Process
Bank will take your short sale package and review your information. If you are eligible for a short
sale, the bank will order whats called a "BPO" - Broker Price Opinion. They hire a licensed real
estate agent to check out your home for an estimated value. Most of the time, the bank just
services loan for the actual investor who gave you the money. So they need run these numbers
by them and see if they are willing to take less. If they all agree, the bank / investor will fax us
a short sale approval letter. Once the short sale is approved, the buyer of your home will have to
follow these terms of the short sale. If they do not, the short sale will fail and your home will probably
be foreclosed. If all goes well, you sign your seller paperwork, buyer signs their paperwork and
you go your way.
Are you Ready to List Your Home?
If you are ready to list your home or have more questions, you have plenty of options to reach us. We will help you with your hardship letter. The banks actually read your hardship letter, so we will make sure we explain the situation to them. Why mod when you can short sale and start over in a few years? You still owe more than the home is worth in a loan mod.
Call us at 707-636-4REO, we will get some basic information from you, give you a free value estimate, and let you know the next steps in the short sale process.
Email us at punjani@mygpsagent.com or contact us asap so we can take care of you.
Still have more questions? Don't forget to check out our FAQ for Sellers.
- Are you tired of stressing out day to day about where you are going to live?
- Are you tired of faxing and paperwork over and over again because the lender didn't get your documents?
- If you are considering a short sale, rather than a loan mod, you came to the right place.
- Save your credit, with a short sale, your credit score won't drop as much as a foreclosure does.
- Worse case, just let the home foreclose. Main thing is to get your life back to normal and be happy!
WE HANDLE ALL BANKS, INCLUDING BANK OF AMERICA, WELLS FARGO, WACHOVIA, CHASE AND MANY MORE.
IF YOU HAVE A WACHOVIA / WORLD SAVINGS LOAN, THIS IS THE FASTEST WAY TO TO A SHORT SALE.
THEY OFFER THE FOLLOWING:
- $2,500 - $5000 CASH TO YOU AT CLOSING
- HASSLE FREE, NO PAPERWORK
- THEY WILL PAY MORE THAN 6% TO YOUR 2ND LIEN
- THEY WON'T COME AFTER YOU FOR THE DIFFERENCE
- OWNER / NON OWNER OCCUPIED OK.
-Completed Financial Statement & Hardship Explanation
-Most recent checking & savings account statements for all borrowers
-Proof of all sources of household income, such as most recent pay stubs. If self-employed,
profit and lost statements for the last two quarters along with your most recent federal tax return
-Last two years tax returns.
-Any other documentation or information you feel may be relevant to the situation
-Documentation showing the complete listing history (Listing Agreement)
-A sales contract signed by buyer & seller, subject to lender approval
-An estimated settlement statement showing all proposed seller paid closing costs
-Proof of Buyer's financing (i.e. - pre-qualification letter, etc.)
The Process
Bank will take your short sale package and review your information. If you are eligible for a short
sale, the bank will order whats called a "BPO" - Broker Price Opinion. They hire a licensed real
estate agent to check out your home for an estimated value. Most of the time, the bank just
services loan for the actual investor who gave you the money. So they need run these numbers
by them and see if they are willing to take less. If they all agree, the bank / investor will fax us
a short sale approval letter. Once the short sale is approved, the buyer of your home will have to
follow these terms of the short sale. If they do not, the short sale will fail and your home will probably
be foreclosed. If all goes well, you sign your seller paperwork, buyer signs their paperwork and
you go your way.
Are you Ready to List Your Home?
If you are ready to list your home or have more questions, you have plenty of options to reach us. We will help you with your hardship letter. The banks actually read your hardship letter, so we will make sure we explain the situation to them. Why mod when you can short sale and start over in a few years? You still owe more than the home is worth in a loan mod.
Call us at 707-636-4REO, we will get some basic information from you, give you a free value estimate, and let you know the next steps in the short sale process.
Email us at punjani@mygpsagent.com or contact us asap so we can take care of you.
Still have more questions? Don't forget to check out our FAQ for Sellers.
