Tag: News
Posted by http://www.floridashortsales.info - April 25, 2012 - News
What is the process for completing a short sale?
Florida Short Sale Process | Short Sales
The process of completing a short sale can seem difficult, but if you understand the process you will find out that it isn’t. But it is a long process .The first step to the process is sending the lender proof of hardship to show why you fell behind on your payments. Next a negotiator will be assigned, which can take 30-60 days. The negotiator will request paperwork to update them on your current situation. The paperwork will include, a hardship letter, a financial statement, tax returns, bank statements, paycheck stubs and other things depending on which lender you are working with. The Lender will then order a BPO (broker price opinion). A BPO determines the market value of the property. A second negotiator may be assigned which can take another 30 days. The file will then be sent to PSA (Pooling Servicer Agreement) for approval, which can take 14-30 days.
Posted by http://www.floridashortsales.info - April 20, 2012 - News
Short Sales Process
The
short sales process is a complicated one, and since the collapse of the real estate market it’s only become even more complicated. The good news is that if you’re facing foreclosure you can beat it, and instead achieve a short sale that will help save your credit. The better news is that you may be eligible for a cash payment of 3-5 thousand dollars upon the completion of your short sale. For help navigating the
short sales process, call Florida Short Sale Realty today and let or licensed short sale broker walk you through the process.
Posted by http://www.floridashortsales.info - April 4, 2012 - News
Short Sale Realtor
If you owe more on your home then it is worth, and/or you’re facing foreclosure, you can’t afford not to speak to a licensed
Short Sale Realtor. At Florida Short Sale Realty, we can help you defend against foreclosure and instead achieve a short sale. A short sale is preferable to foreclosure because it spares you the stress and embarrassment of foreclosure while also sparing your credit, and after a successful short sale you may be eligible for $3000-$5000 dollars. Call Florida Short Sale Realty today and speak to a licensed
Short Sale Realtor right now, and get answers to those tough questions about your home. Call Now!
Posted by http://www.floridashortsales.info - March 22, 2012 - News
Are you looking to
short sale a house but you don’t know where to start? If you’re reading this then you’ve taken the first step in the right direction! Florida Short Sale Realty owner, Alan Palange, is a licensed short sale realtor in the great state of Florida. No one, an I mean no one, knows how to
short sale a house better than Florida Short Sale Realty! We have helped countless individuals facing foreclosure achieve a short sale. If you’re upside down in your home you can’t afford not to call. If you owe more on your home than it is worth, or if you just can’t make the payments anymore, relief is within reach, in fact it’s merely a phone call away!
Posted by http://www.floridashortsales.info - March 20, 2012 - News
The Short Sale Process
The real estate short sale is a relatively new term in the housing market. It is not only confusing to buyers, but also to many real estate agents. That is why if you are interested in a house that is going through this process it is important to go through a short sale realtor. You want the expertise of a professional who knows the ins and outs of this particular housing market method.
Seller’s Process
When a seller wishes to begin this process, he must get approval from his lender to do so. The seller would choose to take this route to sell his house, most likely, because he is having financial troubles which are making it difficult to keep up with his house payments. Also, the house is probably worth less, in today’s market, than he owes on his mortgage.
The bank requires the seller to complete a packet of information Although each bank has its own specifications of requirements when a seller decides to short sale a house, the documents are similar.
* Authorization letter
* Preliminary net sheet
* Hardship letter
* Financial statement
* 2 years worth of income tax returns
* 2 years worth of W2s
* Payroll stubs
* 2 months of bank statements
* Recent comparable house sales
Buyer’s Process
It’s important for the buyer to realize that just because the house is priced lower than market value, the bank may have agreed to the price expecting multiple offers to drive the price up. This is why it may take many months for the bank to respond to a buyer’s offer, as the bank waits out for more offers to arrive. The buyer should start with the comparable house sales report from their real estate agent. Make sure you know how much the short sale house is worth, verses the offering price.
After the buyer makes a formal offer, through his agent, the amount first must be accepted by the home owner. The listing, short sale realtor will then send that offer to the mortgage holding bank, plus:
* Buyers pre-approved letter
* Earnest money
* Seller’s short sale document packet
Bank Process
When the seller decides to short sale a home, he is primarily hoping to get out of a difficult financial situation. Still, it is ultimately up to the bank as to how much and when they will accept an offer. It can be quite some time before the buyer hears anything from the bank about the process. You should not go into this type of home buying situation unless you are in a situation that permits you to put off your purchase for several months.
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