Short Sale Form

[housebroken]

shamdude,

It may be more productive to offer on REO and become more familiar with the short sale/ pre-foreclosure process. Taint for a rookie.

-h

[Shamatso]

I will have to agree with you since, time is money and putting together a short sale offer could lead to full time job itself paying 60 minutes an hour!  

[REOAgentSource]

Short Sales Kits are available all over online.  Just go to the department of Real Estate and ask for their kit.  You can even ask the banks for the complete kit that needs to be sent in.  They will tell you that you need a Borrowers Authorization, Financial Worksheet, Estimate Hud Settlement Statement from a title company, a Hardship Letter (why the borrower is having trouble with their mortgage), and if you have had an appraisal lately that also helps.  Just ask another agent or a title company - they will usually have these forms available for you.  Companies such as Zip Forms where agents get their contracts even have forms being updated daily.

[ShortSaleArtisan]

I have a whole slew of forms if you are looking for them. I've been fairly regularly distributing on request, I think I have over 60 lender specific packages. Send me a message if you want one or visit my site and let me know, I'd be glad to share!

[mostproperties]

Shamatso,

if you wanna have success in short sales, stay away from regular realtors.  Nothing against them but, they don't know short sales... Half of them don't even know what a short sale packet is!  Do a google search for "short sale negotiators" in your area.  Call them, tell them what you want to do and they'll find and work the deals for you.  Saves a whole lot of time and energy.  Their commission is a little higher but, if you find a good negotiator, the may be able to get the selling lender to pay the commission.  Good luck!

[lauraalamery]

In today's market, more and more banks want their short sale forms to be filled out and submitted with the short sale package. And these form change without notice, even for the same bank.
I always go online to the bank website and see if they have a short sale package available or have the owner call and they will email/mail it to him/her. If you send a short sale package without the bank forms that the bank demands, they will toss your package aside or if it is in preforeclosure, proceed with foreclosure.
Since time is of the essence, get ther right forms upfront and submit a complete package. This step alone can save a lot of deals from being lost.

[ShortSaleArtisan]

In today's market, more and more banks want their short sale forms to be filled out and submitted with the short sale package. And these form change without notice, even for the same bank.
I always go online to the bank website and see if they have a short sale package available or have the owner call and they will email/mail it to him/her. If you send a short sale package without the bank forms that the bank demands, they will toss your package aside or if it is in preforeclosure, proceed with foreclosure.
Since time is of the essence, get ther right forms upfront and submit a complete package. This step alone can save a lot of deals from being lost.

If you want a package PM me . I have lender packages for these lenders:

    * American Federal Credit Union
    * American General Financing
    * ASC Contract Addendum
    * ASC Listing Addendum
    * ASC Short Sale Package
    * Aurora Loan Servicing
    * Aurora Loan Short Sale Package
    * Avelo Worksheet
    * Avelo Short Sale Requirements
    * Bank of America Short Sale Package
    * Bank of America Authorization
    * Bank United Short Sale Package
    * Bank North Group
    * Blue View
    * Carrington Mortgage
    * CCO Mortgage Short Sale Package
    * Central Mortgage
    * Chase FHA
    * Chase Home Finance
    * Chase Short Sale Package
    * Citi Verbal Short Sale Requirements
    * Citi Short Sale Package
    * Citi Arms Length transaction
    * Citi Workable Solutions
    * Coastal Capital Corporation
    * EMC Mortgage Corp.
    * Equity One
    * Everhome Mortgage Company
    * Fannie Mae
    * Fifth Third Bank
    * First Franklin Short Sale Package
    * First Horizon Short Sale Package
    * Franklin Credit

   

    * Fremont Investments
    * GMAC Short Sale Package
    * Green Tree Servicing Short Sale Package
    * GRP Financial
    * HFC Beneficial Short Sale Package
    * Homecomings Short Sale Package
    * HOMEQ Short Sale Package
    * Indymac Short Sale Package
    * Interbank Short Sale Package
    * Litton Loan Servicing
    * M T Bank 1st Mortgage
    * M T Bank 2nd Mortgage
    * McCue Mortgage Services Short Sale Package
    * Midland Mortgage
    * MorEquity Short Sale Package
    * National City Short Sale Package
    * Nationwide Advantage Mortgage
    * NovaStar Short Sale Package
    * Ocwen Short Sale Package
    * Ohio Savings Bank Short Sale Package
    * Option One Mortgage
    * PHH Mortgage Short Sale Package
    * Popular Mortgage Short Sale Package
    * Real Time Resolutions Short Sale Package
    * Regions Short Sale Package
    * Saxon Mortgage
    * SPS (Select Portfolio Servicing)
    * Sparta Servicing Short Sale Package
    * Specialized Loan Servicing (SLS)
    * SunTrust Short Sale Package
    * Taylor Bean and Whitaker
    * UBS Servicing
    * US Bank Short Sale Package
    * Wachovia Short Sale Package
    * WAMU (Washington Mutual) Short Sale Package
    * Wilshire Short Sale Package

[hammertime]

so these packages are all free or is there a cost involved? Thanks

[MichaelQuarles]

Here are the forms we obtain once any elimination period has expired.

http://www.theibuyhousesguys.com/Documents_Needed.pdf

[ShortSaleArtisan]

so these packages are all free or is there a cost involved? Thanks

I've been giving them away on request but don't ask me to send all of them... if you are in a pickle and need a package (haha) send me an email and I'll gladly send you one.

[mint12345]

Hi ShortSaleArtisan,

I tried searching the PHH Mortgage website for a short sale package and could not find the link to download one. Could you possibly e-mail me a PHH mortgage short sale package?  Thank you.


mint12345

[Shortsale mad]

We are almost complete with the "Short Sale" of our house, we close on the 31st of March. I would not recomend doing this on your own, we have a real estate agent that has been doing nothing but "Short Sales" since 2005 and we also met with an attorney to find out what our rights are and what to expect based on Nevada law. In some states the lender can pursue the deficiency for up to six years. All banks are differnt in the way they do thier "Short Sale" business and the rules change some times day to day we noticed. The banks don't know what they are doing and don't care about you....

[furnishedowner]

I am attempting a short sale with Wells Fargo Financial.

I just called them up on the phone and told the employee handling that property that I wanted to buy the house, cash, and what should I do? That I didn't have an agent, so they wouldn't need to pay any commission if I bought it.  The wells Fargo short sale gal seemed to like that.

She said to get a letter from the seller authorizing them to talk with me.  Did that.

Then she told me what I needed:
Purchase contract signed by seller (got a blank one from Title Co.)
HUD-1 estimated closing statement from title company.
Verification of funds (letter from bank).  Did all that.

Now they have ordered a BPO (Broker's Price Opinion).  So I met the broker at the property and told him what I was paying.  He's looking at other property for me now.

Now they contacted me again to get a seller's hardship letter and financial statement.  Seller is working on that.

Wells Fargo gal said that it will go to a committee with an answer in 6-8 working days.  If they accept my offer and the seller's hardship I suppose we can then close.

Furnishedowner

[short sale girl]

@ Shamatsu - You really need to purchase a short sale 101 course.  You do not even know the basics about it.  There are alot of laws and guidelines that need to be followed that can get you into trouble.  And please find information that is updated, as short sales and guidelines have changed dramatically even within the last year.