The Traditional Short Sale Process-Redding Ca.-What can Happen?
Traditional Short Sale Process — Your real estate agent will put the property on the market and receive an offer before beginning the short sale eligibility and approval process.
The approval process takes longer with a traditional short sale
than it does with HAFA. HAFA to be discussed in a later section.
Since you already have an offer, the overall timeline may not be as long.
Below is an overview of the steps:
Determine if you are eligible for one of these programs, it’s important
that you call us as soon as possible.
Be prepared to discuss your income and financial hardship in detail. After we talk, we may need some additional paperwork that could include:
• Income verification, including pay stubs,
bank statements and tax returns
• A letter explaining your hardship
• Listing agreement
• A copy of a recent utility bill
In order to complete a short sale with your mortgage company, you must use a
real estate agent during the process. You will not have to pay the cost of
the real estate agent, as the agent will be paid from the sale of the house.
The Traditional Short Sale Process-Redding Ca.-What can Happen?
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