For sellers: Navigating your short sale - Step 2: Your Hardship
In a previous post we talked about the Short Sale Package we give to our sellers to help them navigate the short sale process. Your lender will require many documents from you to evaluate your financial situation. Another important part of the entire package for the lender is your hardship.
Your story, though concise, allows your lender to feel your situation and hopefully place you as a person and/or family rathe than a loan number in arrears. Make sure you place the times and events in sequential order and if possible - handwrite it.
1. Introduce yourself and all borrowers as well as the current default status.
2. Explain why you can't continue to make payments or can't become current in monies owed. There are various reason such as medical bills, job loss, business change/loss, marital status (divorce/separation), death of a spouse and many others.
3. Provide one or two paragraphs explaining your story. Explain how/when and the effect the mortgage payment issue has had on yourself and your family. Be clearn and concise with some expression of emotion concerning your current situation.
4. Make a statement to the requesting a short sale.
5. Thank the lender for their consideration, sign and date.
If you have questions or concerns regarding short sales, just give us a ring: 863-202-0729
We hope this post for sellers about navigating your short sale - Step 2 was helpful to you.
This entry was originally posted on www.millsrealestate.net/blog
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