donnaattusca…, Home Buyer in Boynton Beach, FL

Is it possible to get a short sale before the end of the year if you have been current on everything?

Asked by donnaattuscany, Boynton Beach, FL Tue May 21, 2013

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Much of a short sale depends on many, many factors and if your are current a lot has to do with the loan type, your lender(s) and their investors if they are just servicing the loan, your credit score and what is creating the financial hardship, etc. This is why it is so important to be working with a qualified legal firm in negotiating the file as you want to make sure that a waiver of any future deficiency judgement is included in the final agreement.

If I can be of help in any way just give me a call.

Always at Your Service,

Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
0 votes Thank Flag Link Wed May 22, 2013

Yes it is possible but I would not drag your feet too long and make sure you are working with a team that is going to do everything in their power to move your file along. As discussed in my answer to your last question it is really important that you are ready with all of your financial information as this is the first step. Here is a list of the information you will need to get to our attorneys to start the ball rolling;

Attorney Retainer Agreement
Third Party Authorization letter
Short Sale and Foreclosure Disclosure
IRS Form 4506T
Arms Length Affidavit
Hardship Letter
Detailed list of monthly income and expenses
Three most recent statements for all checking and savings accounts
W2's for 2011 ans 2102
Income tax returns for 2011 and 2012
Last three paycheck stubs
Copies of two most recent mortgage statements
Copies of two most recent statements form any HOA showing any past due amounts
Information on any other liens or judgements

Once I put your home on the market I would anticipate having a solid contract within a week so you have to have all of this information ready to go. If you would like to sit down and go over your homes value, any of the information required from your end and what to expect during the process just let me know.

It is certainly possible to get this transaction closed well before the end of the year; the bank will drive the train but we need to be there to keep them on the track and make sure there is nothing to give them an excuse to slow down.

Hope this is helpful.

Always at Your Service,

Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
0 votes Thank Flag Link Tue May 21, 2013
It is possible to short sell your home even if you are current on your loan. The guidelines have recently changed but you will still need to demonstrate some type of hardship in order to short sell the house. You may want to take a look at and click on the Explore Your Options section.
0 votes Thank Flag Link Tue May 21, 2013
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