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About Long Valley
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Long Valley Information ...
About the Long Valley, New Jersey Area Request my Free Long Valley Relocation Package. It contains useful and important information about the Long Valley, New Jersey area. Don't move here without it! Remember: I'll send it to you for free and without obligation. Just fill out the form and I will send it right out... Click Buttons below for School Information and other information on Long Valley/Washington
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Short Sales >2. How to Request a Short Sale
If you are facing foreclosure and are considering selling your home as a short sale as an out, get in touch with a trusted real estate professional immediately. They will be able to assist you in the process of requesting to short sell your home.
- Your real estate agent will most likely tell you that some banks will not allow a short sale to happen. Contact your lender’s loss mitigation department and speak with a supervisor. Explain your financial situation and ask if you qualify to sell your home as a short sale.
- Ask the supervisor what documents you’ll need to proceed and make copies of those. (Depending on the lender this could be anything from bank statements, tax forms, pay stubs, etc.)
- Ask your real estate agent to come up with a comparative market analysis report to show your lender how much the home is worth based on home sales in the area.
- Write a letter of financial hardship detailing the reasons you are no longer able to make payments on your home.
- When you’ve completed all the aforementioned necessary paperwork, compile it together and mail it to your lender’s loss mitigation department.
- Pending your short sale application approval, request a deficiency release from the bank. The release absolves you of any obligation to pay the balance on the mortgage. If the bank refuses, continue to press the issue.
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What is an encumbrance against a property, which may be voluntary or involuntary?
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There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien. |
See More Real Estate Trivia > |
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Deborah Herridge Keller Williams Towne Square Realty 55 Madison Avenue Suite 400 Morristown, NJ 07960 Direct: 201 400 2980 Office: 973 539 1120 Fax: 201 299 4819 Deborah@TheHerridgeGroup.com
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