Life of a Short Sale Escrow 1.Open Escrow 2.Prepare HUD – email to agents 3.Order Title Search 4.Receive buyer prelim, upon receipt, send prelim to agents 5.Review other liens (if any) and taxes, receive updates statements as necessary 6.Revise HUD several times for agents as needed 7.Receive sh
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07/12/2010
Tried and True Steps in Submitting a Short Sale Package Determine if the client is in the process or has declared bankruptcy Copy of the not to determine type of loan and prepayment Signed Authorization from Seller to Realtor and First Centennial Hardship Letter Back up Documentation for Hardshi
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07/11/2010
HELPING HOMEOWNERS *HARDSHIP * HEALING * HAPPINESSLas Vegas Short Sale Specialists – We can help •· Do you owe more than your home is worth?•· Have you received a notice of default in the mail?•· Do you want, need, or are being forced to move?•· Did you buy an investment property that you need
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07/10/2010
The Hardship Letter The central document in the Short Sale package that will be submitted to the mortgage lenders that will be taking a loss in the Hardship Letter. The Hardship Letter provides the homeowner with an opportunity to state their case as to why they can no longer afford to make thei
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07/10/2010
Nevada FORECLOSURE Timeline Property Owner stops making loan payment Beneficiary/Lender Records Notice of Default (NDF) A notice of Default may be recorded the day after the default occurs, unless the note provides for a grace period, in that case, the day after the grace period expires. Foreclo
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07/10/2010
The SHORT SALE Process Definition of a Short Sale: A seller facing the threat of Foreclosure enters into an agreement with their Mortgage Lender/ Lenders to accept a price for the property which is less than what is actually owed. The Seller makes no profit on a Short Sale.Listing the Property:
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07/10/2010
Frequently Asked Short Sale Questions FREQUENTLY ASKED SHORT SALE QUESTIONS At any time - take action by calling 702-604-7739 and requesting a las vegas short sale kit to start the process. Our informational sellers handbook is a clear guide to what the short sale process is and how it is handle
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07/09/2010
http://www.YourNevadaAgents.com - 702-604-7739 - Coldwell Banker Wardley Real Estate - Short Sale in Nevada Short Sale Services. Home Affordable Modification Program: Overview The Home Affordable Modification Program is designed to help as many as 3 to 4 million financially struggling homeowners
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07/09/2010
Qualifying for a Short Sale Not every owner is a short sales candidate and, unfortunately, not every owner can be saved from foreclosure. In the qualifying process, the real estate professional should confirm, among other items: Whether or not the homeowner has a valid hardship Whether or not
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07/08/2010
Homeowner’s Guide To Nevada Short Sales Table of Contents Contact Information Options for Distressed Homeowners List of Non-Profit Agencies HAMP & HAFA Information Short Sale Flowchart Hardship Letter Samples Steps of Submitting a Short Sale Life of a Short Sale Escrow
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07/08/2010
