donnaattusca…, Home Buyer in Boynton Beach, FL

Is it possible to have a short sale if you are current and not have a defiency or owe a note. I would like to have a short sale completed without

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

Being deficient and ruining my credit but I have took ill and may not be able to hold out long enough to pay my bills if I cannot work.
Hopefully rent a cheaper place

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Put them on notice that you are having a problem.

Then a Realtor could tell you what is a value on your home and how much you can get for it. The market is increasing so I would say "Not to panick". A good decision comes after getting all good information and then making the right decision. You can always rent, that is an easy option. Divorcing yourself from the home with the most money for you is the best option and you need to get knowledge to do that.
0 votes Thank Flag Link Wed May 22, 2013
I would call and write your bank and tell them about your illness in a certified letter.
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 Wed May 22, 2013
It is possible to short sale your Boynton Beach home before you become delinquent in your payments.

The first thing you will want to do is talk to your attorney to ascertain your financial responsibility, if any. Then, call your bank and explain your situation.

In most cases, banks are sympathetic and helpful. They will send you a list of the necessary paperwork they want from you in order to effect the short sale.

Foremost among the items the bank will ask for is a signed listing agreement with your Boynton Beach realtor that says you are short selling your home.

Your realtor, along with the title company you and your agent decide upon, will help to expedite the sale. You will find that once you supply the necessary paperwork, your agent, title company, and bank will take care of just about everything necessary to get the home sold.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
0 votes Thank Flag Link Tue May 21, 2013
Yes, it is possible to do a short sale, if you are current on your mortgage. Feel free to give us a call to discuss.

Eli Givoni
Short Sale Department, LLC
0 votes Thank Flag Link Tue May 21, 2013
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