Relationship between a “Seller & Short Sale”.

What is the definition of “ Short Sale”- Is when the borrower(s) lender(s) agree to sale the property by a Short Payoff  on the original amount owned by the borrower(s). Any seller who is facing any situation that is affecting the way to paid that mortgage need to think that a short sale is maybe a good Solution to resolve that problem. On this market where we can see more options as a “Modification” on big different situation on comparison with last years, the Short Sale still be as a GOOD OPTION, WHY? because the people who are facing trouble to pay the mortgage still need to Qualify for a “Modification”, and what happen when the household income is NOT anymore on the house? Modification don’t apply on this case, because the borrower(s) need at least INCOME enough to cover all  or at least part of: Escrow, taxes, principal,ect. So here is when the Short Sale could take place. The Seller always need to take action at soon as possible and would be better before the Lis Pend Notification arrived from the court.

PROCESS-

• First try to see if the modification is an Option.
• If the modification is not an option,  Call me or email me to set up a Free Orientation Meeting.
• List the house, **the property need to be on the Market.
• Start the collection of Documents needed to the Short Sale process.

DOCUMENTS

• Borrower Authorization
• Hardship Letter
• Personal ID
• Mortgage Statement
• HOA Information (if applied)
• Financial Statement
• Others

The Short sale is always a better alternative than a Foreclosure.

If you need more information, please contact me to set-up a private consultation, Remember each case is different. NOW working area of: Kissimmee,Poinciana, Orlando, Saint Cloud & Davenport. My office is located on Kissimmee FL.

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