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The Short Sale ProcessThe Short Sale Process
 
•What is a Short Sale?What is a Short Sale?•Who Qualifies For a Short Sale?Who Qualifies For a Short Sale?•What Will Be Required of You?What Will Be Required of You?•What Should You Expect in the Process?What Should You Expect in the Process?•What are the Benefits of a Short Sale?What are the Benefits of a Short Sale?•Why Working With Your Real Estate Agent is a Great Decision?Why Working With Your Real Estate Agent is a Great Decision?•Answers to Frequent QuestionsAnswers to Frequent Questions
WelcomeWelcome
. You have contacted an agent. You have contacted an agentto help you sell your home as a short sale.to help you sell your home as a short sale.We have made this recorded presentation toWe have made this recorded presentation tohelp answer your questions about thehelp answer your questions about theshort sale process.short sale process.
 
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What is a Short Sale?What is a Short Sale?
 
•Your home may be over-leveraged or “underwater”Your home may be over-leveraged or “underwater”•You may behind on payments and cannot sell for high enough toYou may behind on payments and cannot sell for high enough tocover what you owe plus other required fees to close.cover what you owe plus other required fees to close.•Lenders created short sales as a foreclosure alternativeLenders created short sales as a foreclosure alternative•Lenders would rather allow you to short sale versus foreclosing.Lenders would rather allow you to short sale versus foreclosing.•Foreclosing on properties costs lenders moneyForeclosing on properties costs lenders money
A Short Sale is when your mortgageA Short Sale is when your mortgagelender(s) and/or lien holder(s) agreelender(s) and/or lien holder(s) agreeto taketo takelesslessthan is owed sothan is owed sothat you can sell your home.that you can sell your home.
 
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Who Qualifies? AndWho Qualifies? AndHow?How?
However, each Lender and Loan Type hasHowever, each Lender and Loan Type hasa different set of requirements.a different set of requirements.
 •Please be sure to tell your agent: Your Lender & Loan TypePlease be sure to tell your agent: Your Lender & Loan Type•This information can be found on a current mortgage statement or This information can be found on a current mortgage statement or the settlement papers from your closing.the settlement papers from your closing.•If you do not know the loan type and lender, be sure to give your If you do not know the loan type and lender, be sure to give your agent authorization to call your lender.agent authorization to call your lender.
Most people facing foreclosure or aMost people facing foreclosure or afinancial hardship who cannot sellfinancial hardship who cannot selltheir home for what is owed, qualify.their home for what is owed, qualify.
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