Below are a list of the Documents that you will need to complete and we will help you prepare. All banks have their own variation of The Short-Sale Process but this should be everything that your current Bank requires.
Letter of Authorization
Banks are very careful about discussing or disclosing information about your finances or mortgage to anybody except you, as well they should be!
But, you also know that most of the time the customer service representative that calls and harasses you for payments is rarely the person you can discuss your financial situation with. Often times, they are collection agents reading from a script. We understand the way these Mortgage Companies and Banks work and can get to the right people in the REO and Asset Management groups to negotiate on your behalf. But we need your permission. After our first meeting and if you feel comfortable working with us, we will ask you to fill out the "letter of authorization" to allow us discuss your mortgage with your Bank and inform them that United Properties is helping you sell your home and we are requesting Short Sale Authorization. This form helps us get past the first hurdle and begin discussions with the bank to Stop the Foreclosure process.
Short-Sale Lender Package
As I mentioned earlier, each bank will have a variation of this document but once we begin the process, we will ask you to begin collecting a "picture of your financial health" so we can demonstrate to the bank why they should approve the short-sale. These include W2's, Tax Returns, Bank Statements etc.
By the time a home owner is considering a short sale, many have already gone through the "band aid" loan modification, forbearance or repayment plan, which is a temporary solution to a long term problem. If you have already written a hardship letter for a loan modification, you will need to write a new one that is more specific to a short sale. Here is an example.