Hello, and welcome once again to the official blog of BGS3, the National Processing Center for Short Sales... rapidly becoming one of the most relied-upon foreclosure solutions in America!
BGS3 believes in assisting and enhancing the short sale process for all parties involved. BGS3 is continually finding more ways to speed up the entire process from all angles, and communication has consistently proven itself to be one of the most important factors in this goal. Technology has aided BGS3 in this effort tremendously, but it is by no means a "cure-all" to miscommunication. It is with this in mind that BGS3 posts here on the BGS3 blog, for all the Internet to see, the information requirements for pre-foreclosed real estate through BGS3. BGS3 invites Realtors to feel free to use this BGS3 blog post as a quick reference, insuring that BGS3 has all the information that BGS3 needs to facilitate the short sale process and enhance the experience for everyone.
Here is the list of the forms BGS3 requires to be filled out:
Contract Submission Form
New Listing Activation Form
Mortgage/Lien Information Form
Authorization to Release Information (signed by the Borrower and Co-Borrower)
The Contract Submission Form contains a checklist of documents to fax to BGS3 with the New Closing File Form. These are the documents on that checklist:
Executed Purchase and Sales Contract
Listing History Printout
Net Sheet or Preliminary HUD-1
Buyer Pre-Approval Letter
Buyer Discount Fee Agreement
All Documents Listed on the "Homeowner Document Checklist", which include:
Financial Information Form
Hardship Letter
Last Two Years of Income Taxes or Written Statement of Explanation
Last Two Bank Statements or Written Statement of Explanation
Last Two Paycheck Stubs or Written Statement of Explanation
The Listing Activation Form also contains a checklist of documents to fax to BGS3 along with it. This checklist includes:
Mortgage Information Form
Estimated Repairs Form
BPO Form
7% Listing Agreement
Authorization to Release (separate one for each lien)
Short Sale Agreement/Acknowledgment/Waiver
Please fax all documents to your BGS3 Loss Mitigation Team at 1.800.896.0709 or 1.800.567.1081.
In addition to updates, the BGS3 blog also serves as an opportunity for feedback from you, the reader. BGS3 often receives messages from raving fans, and will occasionally use the BGS3 blog to post comments and testimonials.
"There is a huge difference in Short Sale companies. BGS3 is responsive, keeps the lines of communication open, allows you to track the progress of any transaction online 24/7 and strives to create win/win situations."
-Marcia Jarvis
VIDEO: http://www.bgs3.com/realtors.html
Brandon Meier
Staff Writer
For more information, please contact:
Kenn Lewis
Co-Founder
T: 502-266-5530 ext.223
kenn.lewis@bgs3.com
BGS3, LLC
140 Whittington Parkway Suite 200
Louisville, KY 40222
www.bgs3.com
http://www.bgs3.blogspot.com/
http://activerain.com/blogs/bgs3
http://www.realtown.com/bgs3/blog
http://www.trulia.com/blog/bgs3
http://www.bgs3light.blogspot.com/
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