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The Looooong of Short Sales - Part 1 of a Series

By
Real Estate Broker/Owner with Front Door Realty WA 24504 / OR 201010056

 

 

Sellers – Get organized right away!  

 

 

The key to a successful short sale is having all your ducks in a row and paperwork gathered…


The following items are required before I can negotiate on your behalf:

  • 2 years tax returns
  • 2 months bank statements (checking and savings)
  • Last 2 paystubs for borrower and co-borrower
  • 2 months mortgage statements (for each loan)
  • Any other investment account statements
  • Hardship Letter
  • Financial Worksheet
 

Check back next week for Part 2, where I will go over my financial worksheet.... and stay tuned! In the following weeks I will also discuss :

 

  • How to write your hardship letter and what to include
  • What kind of offers your bank will accept
  • Government Programs to look in to
  • Bank of America procedures
  • Chase procedures
  • Wells Fargo procedures
  • Items included your short sale packet
  • What an approval letter looks like
  • Dealing with 2nd lien holders
  • Deficiency judgments


If you can’t wait for the answer – contact me! I am always happy to discuss your situation… all calls are confidential.

 

Posted by

 

julie baldino, front door realty of southwest washington

Certified Woman Owned Small Business

Certified Women's Business Enterprise

 360-450-4486 (call/text)

Sales@FrontDoorNw.com

 

Julie Baldino is the managing broker and owner of Front Door Realty serving Multnomah, Clackamas, Washington, Clark, Skamania, and Cowlitz Counties in the following areas: Vancouver, Ridgefield, Battle Ground, Brush Prairie, Hockinson, Woodland, Amboy, Yacolt, Camas, Washougal, La Center, Kalama, Kelso, Longview, Portland, Lake Oswego, Oregon City, Beaverton, Tigard, Clackamas, Hillsboro, West Linn, and more.

 

 

 

Comments (6)

Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

  We always make sure that the list is in writing and reminded...the pay stub/bank statement has to be current of course but crafting the hardship letter and digging out the tax returns seem to be the most time consuming for homeowners sooo sooner than later is better.

Sep 09, 2010 09:24 PM
Dan Edward Phillips
Dan Edward Phillips - Eureka, CA
Realtor and Broker/Owner

Hi Julie and Kathy, great post, very good information for the home owner in trouble.

Sep 09, 2010 10:21 PM
Michele Miller ~ REALTOR®, LMC, HSE, CHS, SRES, CMRS
ERA Key Realty~Worcester County Realty Group - Worcester, MA
'Helping You Make the Best Move"

Great information although there are some sellers just walk away from it all because it's too much work. I have one of them now and it's frustrating....

Sep 09, 2010 10:53 PM
Troy Funk
Allison James Estates & Homes, Sarasota 941-957-3737 - Sarasota, FL
Broker / Associate

To the point and good imformation.

Sep 10, 2010 01:17 AM
David Karp
Peachtree Realty Group, LLC - Woodstock, GA
Woodstock, Marietta GA Real Estate

Julie, Good information. They definitely try your patience.

 

Sep 10, 2010 01:33 AM
Julie Baldino
Front Door Realty - Vancouver, WA
Opening Doors to New Chapters...

Thanks all for reading!! I too have a list of items that I always bring... and it never fails every time I got on a short sale listing appointment the seller has no idea where to start. I thought it would be good to provide some basic information for consumers.

Sep 10, 2010 10:41 AM