We’ll start with a brief phone conversation. We’ll discuss your situation and how you ended up where you are today. This allows us to define your hardship.
After defining your hardship, you’ll need to start gathering required financial information:
30 days of most recent proof of income (i.e. pay stubs, disability award letter, pension award letter, etc.)
60 days of most recent bank statements (all pages, even if blank)
Last two years of tax returns Tax Returns (federal and state; all schedules), if filed.
Mortgage statement with account number
Hardship letter (simple, two paragraph letter explaining what happened and why you no longer can afford your mortgage payments)
Once everything is together, we’ll schedule an appointment to sit down and go over every document you’ll need to sign in order to get started.
After we have all required documentation from you, we’ll submit everything to your mortgage company. The mortgage company will then complete an appraisal or Brokers Price Opinion, which will advise how much the mortgage company is willing to accept for the property.
When a buyer is obtained that presents an offer that meets your mortgage companies required value, we’ll obtain the short sale approval letter! This letter will outline the terms of the short sale and whether the lender is agreeing to waive any remaining balance on the loan.
Title work and Buyer inspections are completed