SHORT SALE PRE-QUALIFICATION Sale Pack · PDF file SHORT SALE PRE-QUALIFICATION PACKAGE...

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Transcript of SHORT SALE PRE-QUALIFICATION Sale Pack · PDF file SHORT SALE PRE-QUALIFICATION PACKAGE...

  • SHORT SALE PRE-QUALIFICATION PACKAGE Dear Home Owner, Thank you for allowing us to work with you in an effort to successfully short sale your home. Please rest assured that you have chosen to work with a team of very experienced professionals, who have made every effort to ensure they are at the forefront of today’s real estate market place. We understand you may be in a very stressful and emotional situation. As such, it’s important to seek the advice of experts who can take a very analytical approach to solving your problem based on current laws and trends in the market place. We will do our part to help make this process as simple as possible to help you get through this, and on with your life. This is a financial pre-qualification package, designed to gather the information necessary in determining whether or not a short sale will best suit your needs. We commend you for taking action in trying to avoid foreclosure. Many homeowners are simply walking away from their homes, not realizing the long term ramifications to their financial lives. Please note that your Realtor has a team assisting him/her with the very labor intensive and arduous task of negotiating with your mortgage lender(s). Members of his/her team may contact you from time to time requesting further documentation or information to help facilitate the negotiations. Next Steps: Please take time to review and complete this package, and gather the required supporting documents. Once completed, you can email or fax all required documents to us, and a member of our team will Contact you once reviewed. Please allow up to 3 business days for review. Thank You!

    602-380-4985 myteamelite@gmail.com www.myteamelite.net Please note that members of Team Elite carry the following designations: CERTIFIED DISTRESSED PROPERTY EXPERT * CERTIFIED SHORT SALE NEGOTIATOR 

  • Package Checklist • Foreclosure vs. Short Sale – Know how each of them may impact you. • Authorization forms (2 if you have more than one loan) • Questionnaire • Short Sale Negotiation Disclosure • Property Checklist • Financial Statement – Be as thorough as possible listing all sources of income and expenses • Sample Letter of Hardship • Letter of Hardship Form • Referral Form • Short Sale Seller Advisory • Short Sale Hold Harmless Agreement In addition to the contents of this package, our team will need the following additional documentation from you: • Most recent mortgage statements and any other recent communication from your lenders • 2 most recent tax returns (ALL PAGES) • If wage earner: most recent consecutive paystubs covering a 30 day span (usually 2) • If self-employed: Year-To-Date Profit & Loss Statement • 2 most recent checking account statements (ALL PAGES) • 2 most recent statements on other asset accounts: savings, retirement, etc… NOTE: Proof of income should be provided from all working members of the household, not just the borrowers on the loan. NOTE: During the short sale process, we are often asked by mortgage companies to provided updated paystubs and bank statements. So during this time, please keep them in a convenient place for easy access, OR you may simply fax paystubs and bank statements to us as you get them. Additionally, we require you forward us copies of all written communications from your lenders 

  • AUTHORIZATION & RELEASE FORM Institution: ___________________________________________ account # ______________ For the property at: ____________________________________________________________ To Whom It May Concern: I/We have authorized the following third parties, their Agents, and Assignees to represent me/us in all matters regarding the referenced mortgage and property. ___Re/Max New Heights Realty Armando Banda 602-380-4985_______ My Real Estate Company Agent Phone __Lawyer’s Title Theresa Hall/ Ellen Webb/ Shayna Sargent 602-993-4545_______ My Title/Escrow Company Escrow Officer Phone This authorization includes: - Permission to receive full disclosure and documentation from our lender(s) on the status of our mortgage(s), including pre-foreclosure proceedings and all information on any existing liens against the above named property. - Permission to address our lender(s) on our behalf. - Permission to negotiate with our lender(s) on our behalf. - Permission to assign responsibility to third parties they may employ in assisting in this matter. - Permission to facilitate the resolution of my mortgage prior to foreclosure. We kindly ask that you contact Re/Max New Heights Realty, its Agents or Assignees directly on all matters pertaining to our mortgage. The above mentioned third parties may address and assign this authorization to any party relating to the above referenced mortgage and property. A copy of this authorization may be accepted as the original. This document may be reproduced by a purchaser\ or trustee of the property to obtain information as needed. Your prompt reply to Re/Max New Heights Realty, its Agents, and Assignees is appreciated. __________________________________________________________/ _____________________ Borrower: Signature Date D.O.B. Social Security Number ________________________ ________________________________ ____________/ ________ Borrower: Signature Date D.O.B. Social Security Number 

  • AUTHORIZATION & RELEASE FORM Institution: ___________________________________________ account # ______________ For the property at: ____________________________________________________________ To Whom It May Concern: I/We have authorized the following third parties, their Agents, and Assignees to represent me/us in all matters regarding the referenced mortgage and property. ___Re/Max New Heights Realty Armando Banda 602-380-4985_______ My Real Estate Company Agent Phone __Lawyer’s Title Theresa Hall/ Ellen Webb/ Shayna Sargent 602-993-4545_______ My Title/Escrow Company Escrow Officer Phone This authorization includes: - Permission to receive full disclosure and documentation from our lender(s) on the status of our mortgage(s), including pre-foreclosure proceedings and all information on any existing liens against the above named property. - Permission to address our lender(s) on our behalf. - Permission to negotiate with our lender(s) on our behalf. - Permission to assign responsibility to third parties they may employ in assisting in this matter. - Permission to facilitate the resolution of my mortgage prior to foreclosure. We kindly ask that you contact Re/Max New Heights Realty, its Agents or Assignees directly on all matters pertaining to our mortgage. The above mentioned third parties may address and assign this authorization to any party relating to the above referenced mortgage and property. A copy of this authorization may be accepted as the original. This document may be reproduced by a purchaser\ or trustee of the property to obtain information as needed. Your prompt reply to Re/Max New Heights Realty, its Agents, and Assignees is appreciated. __________________________________________________________/ _____________________ Borrower: Signature Date D.O.B. Social Security Number ________________________ ________________________________ ____________/ ________ Borrower: Signature Date D.O.B. Social Security Number 

  • QUESTIONNAIRE

    Your name: ___________________________ Spouse: _____________________________________ Best phone number: ________________________ Best email: _______________________________ Address of the home you wish to short sale: _______________________________________________ Do you live in this house? __________ How many loans do you have on this property? ___________ 1st Mortgage Lender: __________________ Amount Owed: ____________ Acct #: _______________ 2nd Mortgage Lender: __________________ Amount Owed: ____________ Acct #: _______________ How many months behind are you? ________ Have you received a notice of foreclosure? __________ Have you attempted a loan modification? ____________ If so, when? __________________________ * Please note you cannot actively pursue a loan modification and a short sale at the same time. Is there an HOA? ___________________ How many months behind are you? ___________________ Is this house currently being rented? ________ If yes, how many months remain on the lease? _______ * Please note we strongly encourage ten