Francis Ha
  • Blog
    • esthe2
    • serveService
    • Food
    • Wedding
    • SocialSecurityDispute
    • staggingBusiness
  • Welcome
    • NotWhatUsaid
    • Useful >
      • doc
      • Skillful
      • Document
      • Re >
        • AgencyRE
        • RiskManage
        • nmlsTip
      • PalabraDeHoy (WordOfToday)
      • stayInRE
    • FastTrack (Lección Rápido) >
      • LogIN
      • CrashCourse
      • PicRE
      • Lección Rápido >
        • RE >
          • Association
          • AbbRE-term
          • AgainList >
            • LLC-corporate
            • Federal
            • SyndicateREIT
            • 3BusDay-LoanStatemt
            • fiance
            • FrenchRE-term
            • CA-law
            • Tax
            • cashOnCash
            • LockIn-dueOnSale
            • Or-EE
            • Construction
            • FHA-ratio
            • Holder
            • un-a-dis-IN
            • RE-YearsDays
            • Blockbust-Steering
            • transmutate
            • ReverseMath
            • Pic
            • Depreciation
            • Land Contract
            • UwillPass
          • RE-term
          • click4
          • ExamSkill
          • Licensing
          • Cases
          • RE-Chinese
          • Sfusd-medical
        • Day6 (día sexto)
        • Day5 (día quinta)
        • Day4 (día cuarto)
        • Day3 (día terceros)
        • Day2 (día segundo)
        • Day1 (Día primera)
        • QuizBrokEE >
          • R12-0105
          • R12-0610
          • R12-1116
          • R12-1620
          • NoHintQuiz2120
          • noHintQuiz12
          • NoHintQuiz
    • 3621 Clement >
      • churchNov10-2010
      • more >
        • Xmas
        • SteveJob
        • Certifcate
        • Services
        • FasterRenew
        • DailyPreport
  • underMaintain
  • 305chapmanSSF
  • Store (Tienda)
    • VicenteCleaner
    • 5mileMarket
    • 未來的車..Come to Christmas Party
    • 1400MthlyBalboa
    • 150000KTmkt
    • 1000MthlyMacArthur
    • Shoe City
    • Market
    • WestlakeArt
    • JoycoFood
    • MilpitasSalon
    • BalboaMarket
    • CameoBeautySalon
    • 2050universityBerkeley
    • 2721judah
    • FreddyMarket
    • SalmonShrimpEB5
  • Anti-Aging NuSkin
    • InterpreterBetter
    • OutOfStateInterpret
    • Tip
    • MDvsInterp
    • Cover4Intepreter
    • Resume4Int
    • how2winInCourt
    • ReferenceInterpreter
    • Examinee >
      • YouTubes >
        • Math
        • Definition-Questions
        • EnglishVoc
        • Linkable
        • Agency
        • Reconcilate
        • OR-EE
        • CaveatEmptor
        • MortgagORvsEE
        • HomeInspect
        • EasyRE
        • TornDownFallDown
        • oweltyLibel
        • REexercise
        • Lease
    • FungShui >
      • 臥虎藏龍
      • 風水 >
        • 奇門遁甲的格局
        • 天干與九宮八卦陣
        • 時辰六旬與遁甲格局
        • 奇儀的象意
        • 易經
        • AcuPoint 穴位
        • 風水家宅
        • Recruit
        • 2020
    • BrokerOnly >
      • Cake
      • FranchisOR
      • CulturalDiff
      • OaklandCondo
      • Pm4TASKS
      • TrainMyManagement
    • MVI >
      • Display
      • 4utube
      • Francais
      • hotelITsupport
      • YnoForeclose
      • ContractorQnA
      • Management
      • LoveNHatred
      • SupportPhone
      • NoAuditorJob
      • EthicsCE-eL
      • HP12C
      • HP12C
      • ParagonLogin
      • YrichmondBest
      • Creativity
      • Yoga
      • ForEmployer
      • Address
      • PyramidMath
      • SingTaoRental
      • Anonymn
      • PmLandlord
      • 1201LaurelSC >
        • HannyHo
        • BuyerChan
        • MikeMai888
        • ElaineSueChan
        • Zaidassaf123
        • Winnie
        • AngelaChu >
          • 3200-14thAveOkld
        • 心雨の我心
        • Kuang
        • SUE WU >
          • wileySanLeandro >
            • SueWu
        • Dliu
        • Margaret
        • Mandy Tan >
          • chan138-16st
          • TerryDBrown
          • Jenny9905bancroft
          • NailSalon
          • NihadBurger
          • AzidStore Aalgahmii
        • StoreMarket
        • Doris
        • TongKinBroker
        • Qing Lee
        • AnnaYin >
          • MedicalMarket
        • Zhang
        • New
        • WangChangRen
        • TamOwn >
          • 475milton
        • DilysRentEE
        • AustinWong >
          • 155BurkR
          • 2329Clinton
        • Emily >
          • 334HartzDanville
        • Ha Sa >
          • Signage
      • ContractorWish
      • Trabajo
      • 1001Wstevens
      • PM-SanMateoInspectn
      • TechnoCaltrain
      • doc4AnnaYin
  • RentApply(Aplicación)
  • 470 33rd Ave SF and Oakland
  • WWW
  • SanPabloRental
  • Restaurant4sale
  • florist4sale
  • 432capitol
  • 1622 Milvia Berkeley
  • 421 7th Street Oakland

Short Sale

5/5/2014

0 Comments

 
On contacting the lender, the owner is referred to the lender’s loss mitigation specialist, sometimes called a negotiator. In response, the owner is sent a shortsale information packet, requesting he deliver the following to the lender:

  1. Authorization to release information to an agent. This document signed by the homeowner gives his lender permission to deal with and furnish information about the mortgage to the homeowner’s real estate agent. Without this authority, lenders will not communicate with anyone acting on behalf of his homeowner, making the document one of first priority. [See first tuesday Form 124]
  2. A hardship letter. In order for the lender to determine whether or not the homeowner is financially qualified to make payments on the mortgage, the homeowner prepares a letter detailing his current personal and financial situation. The homeowner explains he was laid off and has not been able to find a new job. He also discloses he is the only wage earner in his household. [See first tuesday Form 217-1]
  3. His most recent pay stubs, bank statements and tax returns. The lender wants to confirm the homeowner is purchasing only necessities in lieu of making mortgage payments (i.e. groceries, car repairs and school supplies). Tax returns are used to verify annual income. Often the lender will also require the owner to fill out a financial statement (equivalent to an application for a loan) to determine whether the owner has other assets available as a source of funds to pay off the mortgage without a discount (i.e. cash on hand, equity in other property, stocks/bonds, etc.).
  4. Proof of occupancy. The homeowner provides the lender with a utility bill in his name at the property address to prove he occupies the residence and doesn’t rent it to others.
0 Comments



Leave a Reply.

    Author

    Write something about yourself. No need to be fancy, just an overview.

    Archives

    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    October 2012
    September 2012
    August 2012
    June 2012
    May 2012
    March 2012
    September 2011
    June 2011
    May 2011
    April 2011
    March 2011
    December 2010

    Categories

    All
    Court
    Daly City
    Lease
    Leasee
    Lyrics
    Momenum
    Re
    Re Lesson
    Rental
    Rent Estimator

    RSS Feed

Powered by Create your own unique website with customizable templates.