Facing Foreclosure? (Part 2)

Contact An Agent

In our last post we explained what a short sale is. This post is aimed at informing everyone of the steps that are taken in order to complete a short sale and what documents are needed in order to complete these steps. We don’t feel the need to throw in all kinds of confusing mumbo jumbo, because confusion doesn’t help anyone. So we’ll keep it short and sweet. Here it goes…

What needs to be done to complete a short sale?

•   Hire Paige Slyman to market & sell your property

•   Complete financial packet provided

•   Market home for sale / prepare for showings

•   Once contract is received, agent will forward to lender

•   Lender orders appraisal

•   Negotiator approves or declines short sale

•   Approval letter is issued (if applicable)

•   Closing

What documents do you need to gather to get this done?

•   Two months checking and savings account statements (all borrowers if separate)

•   Two months other account statements (all borrowers if separate)

•   Last two paycheck stubs

•   Two years tax returns

•   IRS Form 4506 request for copy of tax return

•   Hardship letter (See example below)

•   Financial worksheet

 

 

 

 

 

 

 

 

 

 

If you are facing what seems to be an imminent foreclosure in the following weeks, you should call Paige Slyman today at (770)-757-7671. He specializes in short sales, which is exactly what we’re talking about.  He can, and will help you escape from foreclosure.

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