Sell More Short Sales , a short sale and loss mitigation advisory firm, has assisted homeowners on a national scale in the elaborate business of short sales, loan modifications, forbearances, deeds in lieu and other loss mitigation solutions.
Sell More Short Sales helps borrowers, lenders, service providers and Third- party investors avoid the cost and time-consuming process of foreclosure and the stressful act of eviction that follows.
Sell More Short Sales’ principles have extensive experience navigating complex real-estate transactions. Sell More Short Sales has developed a network of contacts consisting of property owners, mortgage companies, banks realtors and. The strength of our experience, knowledge and relationships is invaluable
Sell More Short Sales, aims to maximize commissions for its partners by selling the property for the highest price possible. In comparison to agents and brokers that occasionally do short sales, As a leading national shortsale and loss mitigation firm Sell More Short Sales assists agents and brokers in expediting the shortsale process , alleviating bottlenecks in the system as well as mitigating frustrations that agents and brokers are facing in today’s real estate market. Let Sell More Short Sales negotiate your shortsale transactions before they end up in the lenders portfolio. Sell More Short Sales can save you time while increasing your bottom line
Foreclosure timeline- stages of foreclosure
Foreclosure is usually a 6-8 month process, although at times it could take as long as two years
The lender requires a full financial analysis in order to begin the negotiation process for a short sale. All documents listed below must be included in the package before the lender will review your situation and consider a short sale.
(Please download the file for a full printable list)
LIST
Submit Letter of Authorization
Lenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, Title Company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:
- Property Address
- Loan Reference Number
- Your Name / Signature
- The Date
- Your Agent's Name(Sell More Short Sales) & Contact Information
- A copy of a recent statement from the mortgage company or financial institution that holds your mortgage. Include a statement for all mortgages(1st mortgage, 2nd mortgage,etc)
It is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.
Two prior years of tax returns and W-2’s. Remember to provide signed copies of tax returns.
Copies of Bank Statements
If your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.
Hardship Letter
Included in the short sale package to your lender is a Hardship Letter. The purpose of a hardship letter is to inform the bank of your current financial status and why you are unable to afford your mortgage payments. This letter must be handwritten then signed. If you were unable to provide any of the required documents, please reference them in the letter with an explanation. It is important to include as many details as to why you no longer can afford the property, however try to keep your letter to one page.
The sadder the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.
Documentation supporting the hardship (termination of employment letter, disability letter, doctor bills, death certificate, divorce decree ,incarceration documentation, unemployment benefits ,social security benefits, workers comp, collections lawsuits, bankruptcy paperwork (all pages etc.)
| Seller's Items Checklist | [Seller's Items for Short Sale Package] | [Financial Worksheet] | 105Kb |
Why SellMoreShortSales.com?
- Aiming for a Win/Win/Win solution for all parties involved
- In house specialists Knowledgeable in short selling
- Exclusive access to Sell More Short Sales network of investors/buyers
- Grow your business while we take care of your clients
- Avoid the frustration of tough negotiations with lenders
- We Specialize in the shortsale process