lenders: Sherman Smith Successful Short Sale Secrets (Secret #3) - 06/06/09 10:17 AM
Order! Order In The Court!
Order just makes things work better. In all parts of life order is important. Especially with a Short Sale Package. This is the key to a quick approval. (See Secret #4 for Quick Approval) Your package needs to be neat, clean and in the proper order. Think of a Short Sale Package as an un-approval loan package. You want to prove that your client is not capable of continuing to make his payments. Your package should contain the following:
Table of Contents
Short Payoff & Proposal Letter
Authorization of Borrower/Seller
Borrower/Seller Hardship Letter
Copy of 1st … (1 comments)

lenders: Sherman Smith Successful Short Sale Secrets (Secret #2) - 06/06/09 09:32 AM
The Loan Number!
What is the big deal about the loan number? It is very important. First and foremost you want to see the most recent mortgage statement to obtain the loan number. The reason for this is with all of the new bank takeovers (ie. Countrywide-B of A, WAMU-Chase, Wachovia-Wells Fargo, etc) some loan numbers are changing. Some are adding digits to the loan number and others are changing all together.
Next, EVERYTHING the lender does is referenced by the loan number.  That being the case, everything you send the lender should have the loan number on it. Yes everything, … (1 comments)

lenders: Sherman Smith Successful Short Sale Secrets (Secret #1) - 06/05/09 01:42 PM
Do You Know How To Slow Down Your Short Sale Approval!
Many agents do it all the time and don't know that it is happening. Do Not Mail, FedEx, or Hand Deliver your Short Sale Package! I do not care how pretty it is or how much stuff you have in it, FAX it! That right fax it to the lender. Because of the volume that the lenders are doing they are utilizing high speed data imagining systems. This system takes the fax and converts it to a PDF then assigns the file to the correct loan number (loan numbers secret#2). … (3 comments)

lenders: Short Sale Suicide...and How To Prevent It! (Part Two) - 12/26/07 04:11 PM
Short Sale Suicide...and How To Prevent It!
Also How To Determine If A Listing Agent Is Committing Short Sale Suicide...
A Two Part Series Presented by Sherman Smith
Part Two
The Buyers Agent and Short Sales
Now I have told you what to do if you are the listing agent, but what do you do if you have a buyer who is interested in a listed property that is a short sale?  Well first off, I try not to show any short sale listings that I have not talked to the listing agent first.  Here is what I want to know:
Do you have an approval from … (10 comments)

lenders: Short Sale Suicide...and How To Prevent It! (part One) - 12/26/07 03:59 PM
Short Sale Suicide...and How To Prevent It!
Also How To Determine If A Listing Agent Is Committing Short Sale Suicide...
A Two Part Series Presented by Sherman Smith
 
Part One
I am about to upset some of my fellow agents but they need to hear this.  However before I do, I want to give you my qualifications in regards to short sales.
I have been selling real estate in Orange County, California since 1978.  I have my own brokerage company named, Sherman Smith & Associates, which I founded in 1989.  At the time of writing this I have completed 105 closed short sales with a … (15 comments)

 
Sherman Smith (Sherman Smith & Associates)

Sherman Smith

Tustin, CA

More about me…

Sherman Smith & Associates

Address: 1173 Irvine Blvd, Tustin, CA, 92780

Office: (714) 544-5445

Fax: (714) 505-1562

Things that effect the buy, sale, lease or transfer of real estate.


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