Short Sale Negotiation

Why use The Short Sale Assistance Program:

The Short Sale Assistance Program is comprised of a team of seasoned mortgage industry professionals who have originated loans, sold to the secondary market and worked in loss mitigation. They have experience in all aspects of the lending industry not just short sales. We know how to get through the short sale maze. A seller considering a short sale, needs to know their short sale team understands how their sale will be viewed. We know what they need and more important we can explain the entire short sale process to you the seller and to your buyer. You can follow and track every action we take with the banks and understand what is happening and why.

Is the package complete?

Is all documentation for a complete package included?

Many banks reject and suspend short sale packages for missing signatures, incomplete documentation and/or forms not filled out correctly. Short sales is the only thing we do. We evaluate and verify:

• The short sale package is 100% complete. Are your financials in order?
• Do you have everything the banks needs?
• Are you sending too much or sending to little?
• The letter of explanation and reason for hardship: does it reflect the hardship and does it answer the bank's questions in advance.
• The value of the property today vs. what is owed.
• Is the offer/sales price within reasonable guidelines for sale established by the bank and/or current market value?
• Are there any red flags that need to be addressed prior to bank submission?
• Have all costs of the sale been included, back taxes, tax liens, judgments?

Anything that could effect title and prevent a short sale from being closed and are all costs allowed by bank. Referrals to real estate agents that are qualifed and experienced in short sales. If your is FHA, Freddie Mac, Fannie Mae or has Mortgage Insurance (any one of these situations present different requirements by the banks) and prepare your package for short sale accordingly.

What we do:

We send a complete submission of the short sale package to the appropriate departments of any bank, Bi/tri weekly follow up to banks for short sale progress and auction watch - prevention and postponement as needed. Detailed negotiation with first and second mortgage holders, past due HOA fees and penalties, any other liens and judgments that may be assessed against property title company coordination, settlement statements and most important: making sure we are able to give the banks the final net amount of monies they need based on all costs and payments required and clear title available.