Boston MA Short Sales
| How do I get started in a Short Sale?
First, are you in a financial hardship that has caused you to no longer be able to afford your mortgage? Are you behind on several mortgage payments? If so, this is a start. It should be known that a short sale is not for a homeowner who is simply looking for an easy way out of their home, while still being able to make their mortgage payments, instead, a short sale is for the homeowner who has no other options and does not want a foreclosure stamping itself to their credit. When you have come to the conclusion selling your home is what is best, then you should seek the approval of your lender to short sale your home. More times than none, a lender will agree to accept a smaller payoff of the home in order for them to avoid the costly fees and costs of a foreclosure. Upon your lender agreeing, they will ask that you provide a package of financial documentation. This package is known as the, Short Sale Package. It is very wise to have a Short Sale Specialist from the beginning until the end, this way you are not alone and instead you are walking alongside someone who knows the ins and outs of the short sale process.
What information will I need to show for my Boston Short Sale?
When you have opted for a short sale, you will be required to show proof on why you can no longer afford your mortgage payments. You will need to validate your financial hardship through a financial hardship letter and financial documentation. This is where the Short Sale Package comes in. Your package will typically need to consist of the following:
•Letter of Authorization
•HUD-1 (preliminary net sheet)
•Financial Disclosure For
•Seller’s Hardship Letter
•Latest Two Months’ Payslip
•Most Recent Two Months’ Bank Statements (for each borrower on the loan, if there is more than one)
•Two Years W2 or personal tax return
•Repair Estimates for the Property
•Broker Price Opinion
It is very important to keep in mind that applying your name, date and loan number to each piece of paper would be beneficial. If any paper were to be lost, the entire short sale process could be delayed, or worse, rejected.
How much work is involved in a Short Sale?
For thehomeowner, not much. You will be asked to provide your financial information and after that, your Short Sale Specialist Realtor will take care of the rest. Handling all negotiations on your behalf. However, you are able to be involved and you are always welcome to go to your agent with any questions you shall have through the process, after all, that's why they are there for you.
Can I still live in my Boston home during my Short Sale?
Of course! Legally, you are still the owner, and you still have your rights. You will not be asked to relocate until after the completion of your short sale. However, it would be in your best interest to use that time to save for your next move.
Who can I contact about doing a Short Sale on my home?
You are already in the right place! Contact us! Our Short Sale Specialist Realtor's carry all the attributes it take to complete a successful short sale. They acquire the knowledge, skill and most importantly, experience. A lot of Realtor's will tell you they know about short sales, but where's the proof? Having done one short sale is hardly enough to call oneself experienced. Instead, we are Short Sale Specialists! Our main focus is short sales and our main goal, is successfully completing them and helping YOU move on with your life! Not only can you rely on our expertise, our services are 100% FREE to you! That's right! No costs, fees or out of pocket expenses! I strongly encourage you to contact us right away!
Short Sale Incentives are being offered to homeowners opting for Short Sales! Incentives of up to $30,000! In addition, the HAFA Program is offering an incentive of $3,000 towards your relocation expense!