“I need your financial information, last 2 years of tax returns, last 2 pay stubs, last 2 month’s bank statements, and all the other short sale paperwork before I can submit the file”, they tell you.
A perfect short sale file does help. But, some agents think it will make the short sale process so much easier.
But, even if the paperwork is perfect and submitted the lender will still want another piece of paperwork or want something modified. It’s just the nature of short sales.
Lenders are always changing their policies and paperwork requirements. In some cases, they want the seller to fill out their financial statement form.
In other cases, they want certain affidavits filled out and signed. No matter what, the requirements are always changing. It’s hard to hit a moving target.
The best practice we have seen is to submit the paperwork you have and then wait to see if the lender needs any additional paperwork.
When the short sale negotiator first looks at the file they will let you know what they need. You just need to make sure you get them that paperwork fairly quickly.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (281) 602-8050
Thinking about a loan modification? Our Houston loan modification kit has the instructions you will need to get a loan modification approved with your bank.
Thanks for reading this, Alice Monroe.
Alice is a Real Estate Agent at Corali Realty.
Alice Monroe specializes in loan modification assistance and short sales in Houston Texas. Houston Loan Modification Help, Houston Short Sales. Houston Short Sale Realtor. Houston TX Short Sales. Houston Realtor.
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Alice Monroe, Corali Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Alice’s personal views and do not reflect the views of Corali Realty.
This information on A Common Houston Short Sale Myth: The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender is provided as a courtesy to our viewers to help them make informed decisions.